Dick’s Sporting Goods Launches $50 Million Venture Fund to Support ‘Innovative Companies’

• Dick’s Sporting Goods started a venture fund to support smaller companies.
• The $50 million fund will back companies that support Dick’s vision that “sports make people better.” 
• At launch, the fund includes investments in SidelineSwap, EL1 Sports and Moolah Kicks, among others.

Dick’s Sporting Goods has created a venture fund to support other businesses that align with its core values. 

In a Nov. 3 release, Dick’s said it was establishing a fund called DSG Ventures as a $50 million in-house fund that would support innovative companies that shared the retailer’s vision that “sports make people better.” 

At launch, the retailer said DSG Ventures would support companies that work with athletes or communities or companies that support Dick’s mission. The retailer alsosaid its support would go beyond financial investment and would include helping with distribution reach, offering retail expertise and its relationships with athletes. 

DSG Ventures will also work with VentureFuel, a company that pairs global corporations with startups and new technology, on a pilot program centered on enhancing the brand’s omnichannel experience, the release said.

“Dick’s would not be what it is today without the support we received along the way from others who saw our company’s potential,” said Ed Stack, executive chairman at Dick’s, in the release. “Now DSG Ventures will enable us to give back and help support entrepreneurs achieve their dreams through our connections, experience and support. We know that DSG Ventures (and our partners) will bring innovative products, services and experiences to athletes around the world.”

The retailer said it made several initial investments into companies that include: 

• Moolah Kicks: A women’s basketball footwear brand based in New York City. 
• SidelineSwap: An online resale marketplace for sporting goods based in Boston.
• Out&Back Outdoor: A Colorado company that operates a marketplace where customers can buy and sell second-hand outdoor gear.
• EL1 Sports: A Washington state-based youth sports company that offers baseball and softball instruction, team administrative support.
• Courtside Venture: A New York City venture capital firm that supports early-stage founders in the areas of sports, gaming and wellness.

SidelineSwap in a Nov. 3 release said the investment from Dick’s, an extension of an existing partnership, would allow for greater resale opportunities, including pop-up events. 

“This is a big step for us,” said Brendan Candon, co-founder and CEO of SidelineSwap, in the release. “This partnership started with our commitment to make it easy for anyone to sell their used sports equipment. We’ve spent the last 5-plus years building the best online resale marketplace in sports, and now we’re expanding the business to power resale wherever athletes shop or play through our trade-in platform.”