RECORD VENTURE FUNDING SPAWNS NEW SPORTS SPONSORSHIP INVESTMENT

Ernst & Young recently determined venture-backed U.S. companies raised $64 billion in Q1 2021. The record-setting quarter comes on the heels of a record year in 2020 (despite the pandemic) and three straight years of at least $100 billion in venture funding. The flood of investment capital pouring into startups has—and should continue to be—a boon to the sports sponsorship business.