Monumental Sports & Entertainment Founder Ted Leonsis is starting a $10M venture capital fund to "invest in tech startups with the potential to change the way we watch and experience sports," according to Robert Terry of the WASHINGTON BUSINESS JOURNAL. Leonsis "revealed his plans at a tech and innovation showcase" hosted by MS&E on Monday for corporate partners. The move "furthers an interesting push lately for Monumental beyond being the steward" for three franchises and two arenas. The company is "moving aggressively to up the profile of its assets internationally and tap new revenue streams while doing it." Leonsis said that the fund will "debut next year and will have its own management team" reporting to Monumental Exec VP and General Counsel Randy Boe. Leonsis is "backing mobile video tech startup Kiswe Mobile as an angel investor." Monumental is "at the leading edge of virtual reality technology, thanks to a partnership" with California-based tech firm STRIVR Labs. Leonsis said that he "sees VR's real potential in sponsorships." He said, "It’s going to change everything" (BIZJOURNALS.com, 3/2).
INSTANT REPLAY: In Silicon Valley, Gina Hall reported 3D video-imaging startup Replay Technologies on Monday raised $13.5M in funding to "develop next-generation, multi-dimensional video technologies." Deutsche Telekom Capital Partners "led the Series B round with participation from Guggenheim Partners." Replay "recently partnered with Intel to deliver consumer-controlled, 360-degree instant replays for the NFL during Super Bowl 50 and for the NBA during the All-Star Weekend." Replay will "use the new funds to explore opportunities in Europe and the U.S. and to extend into more sporting events and other types of live entertainment" (BIZJOURNALS.com, 3/2).
