The Professional Golf Association (PGA) of America announced plans to launch a dedicated funding vehicle with Elysian Park Ventures, the investment arm of Major League Baseball’s (MLB) Los Angeles Dodgers, to support golf innovation.

Elysian Park Ventures’ portfolio includes brands and companies operating in sports technology, entertainment, health, fitness and wellness. The new funding vehicle, EP Golf Ventures, LLC, will invest in value drivers across the $84 billion-plus golf industry. Targeted areas include coaching and training, health and wellness, performance science, hospitality, facility management, retail and agriculture.

EP Golf Ventures is an investor in Sportsbox AI and Dryvebox.

“The PGA of America is committed to developing and growing the game for the current and next generation of players, golf facilities and PGA professionals,” said PGA of America CEO Seth Waugh. “Through EP Golf Ventures, we will be able to identify and invest in the most promising businesses within the golf industry to support both innovation and the growth of the game, as well as create long-term value for PGA professionals. Elysian Park Ventures has an impressive portfolio of businesses and entities operating within the sports industry, and we are thrilled to partner with them on this venture.”

Elysian Park and the PGA of America committed capital to the fund.

“Golf is one of the world’s fastest-growing sports, and there is an enormous opportunity to innovate, improve and extend the game’s reach on and beyond the course,” said Jay Adya, Elysian Park Ventures managing director. “EP Golf Ventures combines the golf industry expertise of the PGA of America with the institutional knowledge of our team at Elysian Park. Together, we believe EP Golf Ventures and the strategic investments we make will have a positive, prolonged impact on the game of golf and create real value for stakeholders.”