Swag Golf, a golf accessory, equipment and apparel company based in Northbrook, IL, closed a $10 million growth funding round led by Verance Capital, a New York-based growth investment firm focused on sports and entertainment.
Additional participants in the financing included the San Francisco 49ers’ affiliated fund Aurum Partners, three-time Olympic gold medalist Shaun White, two-time NBA All-Star Zach LaVine, founder of Heights, LLC, Alex Cohen, Howard Lindzon, and former CEO of Libra Solutions Greg Zeeman, among others.
Swag Golf said the investment would support the company’s product lines, including its headcovers and putters, expand into new products, increase its presence in the Asia-Pacific marketplace, and accelerate its manufacturing capacity.
“I founded Swag after spending many years in the golf industry and noticing a distinct lack of original expressive design and quality. This investment will help us broaden our incredibly innovative product base,” said Nick Venson, Swag Golf’s founder and CEO, who spent over 19 years in the golf industry before founding Swag Golf. “Our limited-edition, premium product releases typically sell out in minutes. With this investment, we will be able to increase our manufacturing capacity to meet increased demand and satisfy our ever-growing customer base while enabling us to innovate on the next generation of Swag’s product lines.”
Swag Golf reported that the company’s expansion comes as the broader golf industry has experienced strong growth over the past several years, driven by a younger, more diverse audience. The sector has seen “double-digit growth in total rounds played versus pre-COVID, a vibrant collector’s market and a continued resurgence in PGA TOUR viewership. Top athletes on the PGA and LPGA Tours now represent Swag Golf,” the company said in a release.
“Since embarking on our journey to disrupt the golf industry in 2018, we have been humbled by the insatiable demand for our products and are grateful for our loyal, passionate customer base,” continued Venson. “We are thrilled to partner with Verance Capital and the rest of our industry-leading investor group as we embark on our next growth phase. Their expertise across the sports and media ecosystems will help us accelerate our value proposition and capture a larger share of the growing golf merchandise and collectibles market through international expansion, new partnerships, and increased manufacturing capabilities.”
“We are thrilled to partner with Nick Venson and his team to help accelerate Swag’s mission to transform the golf industry,” said Lyle Ayes, founder and CEO of Verance Capital. “Swag Golf is a proven disrupter in the space that has successfully tapped into the collector psyche by offering premium, exclusive, and differentiated products. The company is poised to capitalize on the extraordinary demand for its products and the strong macro tailwinds in the golf industry, and we’re excited to be part of that journey.”
