Drive by DraftKings

Drive by DraftKings (DbDK) is the dedicated venture capital arm of DraftKings, the prominent digital sports entertainment and gaming company. Launched in 2021, DbDK is strategically positioned in Boston, Massachusetts, to identify and back innovative companies at the intersection of sports, technology, entertainment, and consumer experiences. The firm leverages the extensive industry expertise and network of its parent company, aiming to foster the next generation of leaders in these rapidly evolving sectors. Its investment mandate is broad, covering a spectrum of opportunities from emerging startups to more established growth-stage enterprises.

DbDK operates as a multi-stage investor, deploying capital across seed, Series A, and later-stage rounds, including growth equity. The firm manages a $60 million fund, which underpins its capacity to make significant investments. Initial check sizes for portfolio companies typically range from $250,000 for early-stage ventures up to $10 million for more mature companies or strategic growth rounds. This flexible investment approach allows DbDK to support companies throughout their lifecycle, providing not just capital but also strategic guidance and access to DraftKings' vast ecosystem.

Beyond financial investment, Drive by DraftKings offers portfolio companies unparalleled access to DraftKings' operational expertise, market insights, and expansive user base. This strategic alignment provides a unique value proposition, enabling startups to accelerate product development, scale operations, and gain market traction within the highly competitive sports and entertainment landscape. The firm actively seeks companies that can benefit from or contribute to the broader DraftKings ecosystem, including areas like fan engagement, sports betting technology, fantasy sports, media, and emerging consumer platforms.

The firm's strategic focus on SportsTech and entertainment reflects DraftKings' commitment to innovation and its vision for the future of digital entertainment. By investing in disruptive technologies and business models, Drive by DraftKings aims to cultivate a robust portfolio that not only generates financial returns but also shapes the future of how consumers interact with sports and entertainment. This symbiotic relationship between the venture arm and its parent company positions DbDK as a distinctive and impactful player in the venture capital landscape.