Free agent G Dwyane Wade and rapper Drake have "invested in a digital sports media start-up," Mars Reel, that will "cover top high school athletes and their teams," according to Alexandra Steigrad of the N.Y. POST. Mars Reel "recently completed" its initial $4.7M fundraising round with the "stars' help." WarnerMedia unit Otter Media "led the round, and will become an adviser and strategic partner of Mars Reel in several areas of growth." Wade and Drake "join a roster of big names backing the company," including Lakers F LeBron James, Warriors F Kevin Durant and rapper Nas. Other investors include SpringHill Entertainment CEO Maverick Carter and Translation Founder & CEO Steve Stoute (N.Y. POST, 8/22). VARIETY's Todd Spangler noted the initial focus for Mars Reel was "producing and distributing original short-form high school hoops highlights across internet platforms" such as Instagram, Facebook, YouTube, Twitter and Snapchat, as well as "distribution partners such as USA Today Sports." Former NBA Shane Battier is also an investor in Mars Reel (VARIETY.com, 8/21).
