The NFL’s venture capital division has made an investment in Blue Star Sports, the rapidly growing technology company that creates and supports organizational youth sports software.
This outlay by 32 Equity — which the NFL founded in conjunction with Providence Equity Partners in 2013 with a $1 million seed investment from each of its 32 franchises — follows prior investments in the virtual reality company STRIVR and the athletic merchandise company Fanatics, among others.
32 Equity’s purchase of a stake in Blue Star Sports is believed to be the first time the league investment consortium has made a financial commitment to a company already partially owned by a league owner, the SportsBusiness Journal reported, as Cowboys boss Jerry Jones (and Providence Equity Partners) had both already backed the sports tech company.
“We are pleased to establish a strategic partnership with Blue Star Sports, which is in the unique position of having unprecedented reach across youth sports,” Kevin LaForce, vice president of 32 Equity, said in a statement. “The company’s relationship with USA Football and its dedication to youth sports will help increase participation at all levels and enhance the experience for young people and their families.”
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Blue Star Sports, based in Texas, has already partnered with the AAU, USA Football and U.S. Soccer and announced that acquisition of its 14th company, Stack, a content and media company targeting young athletes, parents and coaches.
“Now with the acquisition of Stack and support of the NFL, we are positioned to further accelerate our growth and make an even bigger impact on the youth sports ecosystem with innovative technology solutions, content, media educational tools and in-person events focused on player development,” Rob Wechsler, founder and CEO of Blue Star Sports, said in a release.