First Asia-focused sports tech investment house launched by Varcis Capital
VARCIS Capital recently launched what it labels the world’s first Asia-focused sports technology investment and advisory house.
Headquartered in Hong Kong and with imminent leadership announcements to be made in China and Australia, Varcis has a vision to become the world’s most important sports technology and human performance platform in Asia.
Varcis Capital founder and managing partner Phillip King said the company was founded on the core belief that Asia’s 4.7 billion people (62% of the world’s population) would have a big role to play in the future intersection of sports, fitness, health, wellness and technology.
“Varcis Capital and our partners are committed to the intersection of sports and technology in Asia – specifically sport, fitness, health, medical, wellness, eSports and human performance –making direct investments and transaction advice to companies,” Mr King said.
“The first problem with the global landscape is the majority of venture capital for the sports technology industry is American centric which represents only 5 percent of the world’s human population – Asia has 62 percent of the world’s population (4.7 billion people) and is home to fastest-markets growing at 20 percent CAGR at the intersection of sports, fitness, health, wellness and technology.
“The second problem is that Asia’s best entrepreneurs need more local investment, capital markets expertise and integrated ecosystems to accelerate faster and work more closely with Asia sports clients,” Mr King said.
“Varcis Capital and its partners aim to co-create an open end-to-end ecosystem for sports technology that seamlessly connects, celebrates, supports and turbo-charges the best and brightest sports technology and human performance across 48 countries in the Asia region.”
Mr King said Varcis Capital had created a world-class leadership team, combining elite sports experience, investment management and brand licensing, venture growth research and transaction advice in Asia.
“The Varcis Investment Division will write ‘seed’ and ‘Series A’ cheques of between US$500,000 and $5 million and the Varcis Transactional Team will provide expertise – from M&A, IPO and due diligence advice, technical expertise and brand distribution licencing – to fast-track companies looking to expand, create and monetize sports in Asia,” he said.
According to Mr King, the Varcis global partner network has access to “tens of thousands of sports teams, leagues and organisations in Asia and internationally – as well as the world’s leading sports entrepreneurs and exciting young companies”.
The company’s main geographic focus markets include China, Australia, India, Japan, Hong Kong, Singapore, Philippines and Korea and all 48 countries across the Asia region, while Varcis is establishing physical offices in Hong Kong, Beijing and Melbourne in 2020.