The sports tech sector had one of its best quarters ever in Q2, according to investment bank Drake Star.
The large number of new M&A deals, coupled with an influx of capital and a rebounding market, are driving growth in sports tech, Drake Star principal Mohit Pareek told Insider.
In Q2, the biggest deal — and one of the largest ever sports-tech deals — was the April acquisition of WWE by Endeavor, the parent company of the UFC.
Drake Star found 199 private-funding deals closed in Q2, up from 176 deals in Q1.
Overall, though, less money was raised with the Q2 deals totaling $1.6 billion, compared to $1.7 billion last quarter.
Persons:
Drake Star, Drake, Mohit Pareek, Pareek, —, BPEA EQT
Organizations:
Drake Star, WWE, UFC, Endeavor, IMG Academy, NeoGames SA, Media, FuboTV, Drake
Locations:
Sportradar