Sixers Innovation Lab, a venture capital fund supported by Harris Blitzer Sports and Entertainment (HBSE), has launched a second fund to support early-stage startups across the United States.
The fund will focus on B2C and B2B2C companies in esports and gaming, alongside sports, media, entertainment and merchandising.
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The fund will be led by Seth Berger, Managing Director of Sixers Innovation Lab, who commented on the announcement: “While we started with a focus on entrepreneurs in the Philadelphia area, our operations have expanded across the U.S. since 2019, enabling us to support an unprecedented level of diverse companies and talent.
“With the launch of this latest fund and with the support of Harris Blitzer Sports & Entertainment, we’re excited by the opportunity to build on our success and continue to collaborate with visionary, talented teams leading early-stage companies across the country.”
Sixers Innovation Fund said in a release that it is committed to investing in diverse businesses.
The Sixers Innovation Lab is a venture capital focused on supporting rapidly growing, early-stage companies in the consumer product space. The fund provides individualised consulting and investment, as well as access to industry experts, executives and financiers, as well as third-party branding, marketing and legal services.
The fund expansion builds on a track record across seventeen investments, which includes a gameplay recording tool called Lowkey.gg recently acquired by Niantic, and U.GG, a community gaming platform acquired by Enthusiast Gaming for $45m (~£34.6m).
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Josh Harris, Co-Founder of HBSE and Managing Partner of the Philadelphia 76ers, said: “We are thrilled to support Seth Berger in the launch of his second fund with Sixers Innovation Lab. Seth has a long-standing track record not only as a successful entrepreneur and business-builder but in having a keen eye for emerging, diverse and high-potential talent.
“We look forward to seeing how his leadership and guidance will serve to support exciting new businesses during a critical stage of their growth.”
Esports Insider says: Investment companies and VCs that support emerging startups in the entertainment industry are crucial for the sector’s future development and innovation. Moreover, providing early-stage businesses with an extensive support package on top of investment indicates HBSE’s profound commitment to the growth and development of various segments of the entertainment industry.