Sharp Alpha Advisors announced the closing of Sharp Alpha Fund II, an oversubscribed $25 million venture capital fund investing in early-stage sports, gaming, and entertainment businesses.

Existing investments in Fund II include C15 Studio, which recently emerged from stealth mode as the operator and distributor of Formula 1’s new streaming channel. Previous investments include Almost Friday Media, Jackpot.com, and Betcha (acquired by Vivid Seats).

The fund targets seed investments ranging from $1 – 2 million. Sharp Alpha also operates a co-investment vehicle that provides limited partners the ability to invest additional capital in select deals alongside the fund.

Managing Partner Lloyd Danzig was recently named to Business Insider’s Top Venture Capitalists in Sports and ELG’s 40 Under 40. He is frequently featured by CNBC, The New York Times, and The Wall Street Journal.

The fund is backed by public companies, US fnancial institutions, pro sports team owners, family offces, top venture capitalists, and funds of funds, among others.

According to Danzig, there is a signifcant opportunity at the intersection of sports, gaming, media, and technology. “The competitive entertainment category is experiencing exponential growth but at the same time is desperate for innovation that early-stage companies are best positioned to supply.”

The fund has exceeded its $25 million capital raise target and expanded the size of its deal team.

Commenting on current market conditions, Danzig explained, “we are entering the most favorable period in the last 15 years to bet on great founders.”

Sharp Alpha’s advisory board includes Keith Horn, founder of Loring Capital Advisors and former COO of Elliott Management and Global Head of Leveraged Finance at Merrill Lynch; Emanuel Pearlman, the former Chairman of Empire Resorts and board member at several public companies; Daniel Bernard, Founder and Chairman of Redwood International Sports; Roy Behren, the President and Chief Investment Offcer of a $5.2 billion asset manager; and Don Kornstein, the Vice Chairman of Caesars Entertainment and former executive at numerous successful gaming companies.

In addition to investment capital, the frm provides portfolio companies with a suite of resources and opportunities spanning fundraising, revenue generation, brand awareness, commercial strategy, fnancial planning, and product development.

Sphaira Innovation, a not-for-profit harnessing the power of people and technology to make positive change, has acquired video games market insights specialist Playmob.

The deal, for an undisclosed sum, creates a formal relationship between Playmob and Sphaira Innovation’s PlanetPlay, which is bringing the games industry and players together to fight climate change.

Playmob CEO Jude Ower – who now becomes Chief Strategy Officer (CSO) of Sphaira UK – has worked closely with PlanetPlay on the launch of its Make Green Tuesday Moves campaign, which aims to help games studios and players make important real-world impact in the fight against climate change.

Alongside PlanetPlay CEO Rhea Loucas, Ower also recently led a games industry delegation to the UN Development Programme’s (UNDP) Climate Promise event at UN HQ in New York – an initiative to support countries as they increase their climate action contributions.

Meanwhile, Ower is also the Co-Founder of the Playing For The Planet Alliance and Co-Author of the recently published book ‘Gaming for Good: Unlocking the Power of Gaming to Create a Better World for Us All’, which also supports green projects via PlanetPlay.

And in 2021, she worked with the UNDP on the ‘People’s Climate Vote’, the biggest survey of consumer attitudes towards climate change, which was facilitated through Playmob’s innovative game insights platform and reached 33 million gamers worldwide. The survey had 1.2 million validated votes in 50 countries around the world.

She is speaking this week at the UK Government’s Department for Business & Trade GREAT FUTURES event in Riyadh, Saudi Arabia, where she is discussing how the UK video games industry can work with Saudi Arabia in areas such as gaming and sustainability. She is joined at the event by Sphaira Innovation UK Chairman and Sphaira Innovation AG Board Member Dirk van Daele.

Working alongside PlanetPlay under the Sphaira Innovation umbrella, Playmob is again working with the UNDP on a new and even more ambitious international study of whether people consider climate change to be a global emergency, and how they would like their countries to tackle the issue.

Sphaira Innovation UK CSO Jude Ower said: “Playmob’s mission is closely aligned with PlanetPlay, and we are delighted to announce that we are merging our important efforts, and Playmob is being acquired by PlanetPlay. Through the projects we have been working on together, it is clear that our partnership is a strong move for our industry and pushing the sustainability x gaming agenda forward. PlanetPlay and Sphaira is the right home for Playmob and we are excited for the next part of our green gaming journey together.”

Sphaira Innovation UK Chairman & Sphaira Innovation AG Board Member Dirk van Daele offered: “After having been accepted by major game studios and music artists in supporting our not-for-profit eco donate platform, we are excited for Playmob and Jude to join us. Her efforts and established track record in ‘playing for good’ will help us to scale even faster for the benefit of the climate.”

PlanetPlay CEO Rhea Loucas added: “PlanetPlay as a disruptive NPO is constantly seeking innovative solutions for engaging billions of gamers as part of our mission to combat climate change. We have already been working closely for a long time with Playmob and Jude Ower on a few exciting projects; with the acquisition, we will be able to join forces and achieve our goal together. With three billion players around the world, and through the combination of our gaming and sustainability efforts, we can all collectively make a difference for our planet.”

Itai Zak, a visionary iGaming executive with nearly two decades of experience in the online gaming industry, has been confirmed as a speaker at the annual CasinoBeats Summit in Malta from 21-23 May 2024. Zak will take a seat in an executive leadership panel, ‘Industry Trends and Future Predictions.’

Moderated by Martyn Elliott, the Project Director of SBC Media, the panel will center around the shift in consumer needs and the quest for more engaging and immersive experiences. It will delve into topics such as leveraging player trends and efficient strategies for 2024/2025, the integration of advanced technologies, responsible gaming, and exploring innovative game formats to captivate the next generation of players.

Itai Zak, currently serving as Executive Director for iGaming division of Digicode and is the former CEO of SBTech. Notably, Zak played a pivotal role in the successful growth and transformation of SBTech from a startup to an industry-leading provider of interactive sports betting solutions and services. His expertise in leading organizations through critical transition periods and delivering phenomenal financial results has garnered him recognition in the industry, including being named one of Gaming Intelligence’s ‘Hot 50’ on two separate occasions in 2016 and 2018.

Itai Zak states, ‘I’m thrilled to join this event, share insights, and exchange opinions and predictions with the experts in the niche. It’s a fantastic opportunity to collaborate and drive innovation forward in the gaming industry. I look forward to discussions and networking with fellow enthusiasts, as together, we shape the future landscape of gaming.’

Itai’s participation at the CasinoBeats Summit is anticipated to offer valuable insights and perspectives on the future of the iGaming industry, further solidifying Digicode’s position as a leading player in the gaming technology space.

The 6th edition of Casino Beats Summit will unite around 3,500 industry professionals, offering opportunities for business, education, and networking. The conference will cover the technical aspects behind casinos, game development, and player psychology. It will also feature separate tracks on leadership and affiliation, interactive SEO workshops, and roundtable discussions on some of the hottest markets in the industry.