Dentsu Ventures Invests in Overtime, a U.S.-Based Company which Runs a Sports Platform and Community for Young Fans
Apr 23, 2021
- IR-Voluntary Disclosure
Dentsu Group Inc. (Tokyo: 4324; ISIN: JP3551520004; President & CEO: Toshihiro Yamamoto; Head Office: Tokyo; Capital: 74,609.81 million yen) announced that Dentsu Ventures Global Fund I (hereinafter "Dentsu Ventures"), the Company's corporate venture capital fund, has made an investment in Overtime Sports, Inc. (Headquarters: Brooklyn, New York; CEO: Dan Porter; hereinafter "Overtime"), which runs a sports platform and community for young sports fans with a focus on Gen Z.
Overtime produces and distributes video content, primarily related to high school sports for Gen Z sports fans, mainly in the U.S. Overtime’s programming generates more than 1.7 billion video views per month, and the company has almost 50 million followers across major social platforms. Overtime runs an advertising business and an e-commerce business by leveraging its enthusiastic community of sports fans, and recently announced a launch of Overtime Elite (OTE), a basketball league for elite high school prospects, that was expected to be a new pillar of the company’s business this year.
Dentsu Ventures will assist the expansion of Overtime’s business by supporting the advertising business promoted by Overtime, which has strengths in content production and distribution that target young people, and by collaborating with the company in the new OTE basketball league.
Profile of Overtime
|Name:||Overtime Sports, Inc.|
|Location:||Brooklyn, New York, USA|
|Date of Establishment:||November 18, 2016|
|Representative:||Dan Porter, CEO|
|Line of Business:||Content production and distribution platform for young sports fans|
Profile of Dentsu Ventures Global Fund I
|Name:||Dentsu Ventures Global Fund I|
|Total Fund Capital:||10 billion yen|
|Date of Establishment:||April 2015|
|Period of Operation:||Ten-year period from April 2015 until March 2025|
|Investment Regions:||Global investments with a focus on the USA, Europe, Japan and Asia|
|Investment Stages:||Balanced, wide-ranging investments with the focus on seed and early-stage investments, but also including mid-stage and later-stage investments|
|Investment Areas:||(1) Areas that can change the marketing and communication business in a broad sense
(2) New areas other than the above that have a high potential for innovation
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