Saturday, April 20, 2024

ECONOMY | 19-10-2022 10:51

Lionel Messi launches investment firm Targeting sports and tech

Argentina captain and PSG star is creating a holding company to invest in sports, media and technology globally, reveals Bloomberg.

Football superstar Lionel Messi is creating a holding company to invest in sports, media and technology globally. 

Based in San Francisco, Play Time Sports-Tech HoldCo LLC will be Messi’s main investment vehicle, according to a statement. The company will explore “stage agnostic” opportunities that could include, for example, helping startup founders build football-tech companies or investing in teams. 

“I am excited to extend our roots into Silicon Valley, and I am thrilled that Play Time will collaborate with daring entrepreneurs from all over the world,” Messi said in a statement. 

Play Time will be run by Razmig Hovaghimian, partner at venture capital firm Graph Ventures. Michael Marquez, founding partner of investment bank Code Advisors LLC, will be a special adviser. 

Hovaghimian is also a co-founder of football venture, which counts Play Time as its first investor and plans to launch before the 2022 FIFA World Cup begins in November. The holding company also holds a stake in football-tech start-up AC Momento. 

“From the time I met Leo and the Messi family in 2017, it was clear that their vision for the future is bold,” Hovaghimian said in a statement. “They want to continue to have a direct and lasting impact on and off the pitch.”

The statement did not include the amount to be invested. 

related news

by Carolina Millan, Bloomberg


More in (in spanish)