Portuguese investment firm APEX has announced a new private equity fund targeting $350 million, marking a major strategic move into the European sports market. The fund is designed to acquire minority stakes in small to mid-sized teams and leagues, a segment that has historically been underserved by institutional capital. With this expansion, APEX aims to unlock overlooked growth opportunities while providing much-needed financing to emerging sports properties.
A Strategic Shift in Investment Focus
The APEX Sports Growth Fund plans to acquire stakes ranging from 20 percent to 49 percent in sports ventures valued between $55 million and $550 million. Individual investment tickets are expected to range from approximately $15 million to $50 million, enabling the firm to complete 10 to 20 transactions over the next decade. CEO António Caçorino highlights that the market gap is clear, with many teams seeking growth funding without giving up full control, creating an ideal entry point for specialized investors.
Building on a Proven Track Record
This initiative represents a significant evolution from APEX’s origins as a venture capital investor. The firm launched in 2020 with a $55 million fund backed by more than 100 professional athletes, including F1 drivers Lando Norris and Carlos Sainz. Earlier minority-equity deals in Alpine F1 and Venezia FC, both representing stakes below 20 percent, demonstrated the limitations of smaller participations and the need for more meaningful governance rights to drive operational and commercial value.
Targeting Untapped European Potential
APEX sees Europe as a continent filled with undervalued assets that have strong upside potential but lack access to growth capital. Compared to the highly commercialized US sports ecosystem, European clubs often present lower acquisition thresholds and fewer regulatory barriers. APEX argues that with the right strategic capital and operational support, these properties can unlock significant value and deliver attractive risk-adjusted returns for investors.
A Diversified and Synergistic Approach
The fund adopts a diversified structure to broaden opportunity and reduce exposure. Roughly 70 percent of the capital is allocated to minority stakes in European sports assets. Another 15 percent is dedicated to more mature US-based properties, which could include a potential investment in an NBA franchise. The remaining 15 percent targets APEX’s first full buyouts of smaller European assets, particularly in familiar sectors like football and motorsport.
A significant advantage for APEX is the synergy with its existing venture portfolio, which includes innovative companies such as TMRW Sports and ScorePlay. This integrated model allows APEX to introduce advanced digital, media, and fan-engagement technologies into its team and league investments. The firm expects this cross-portfolio collaboration to accelerate growth and strengthen the commercial appeal of acquired sports properties.
Positioning for Future Growth
APEX aims to establish itself as a critical bridge in the sports investment landscape. Its strategy focuses on developing mid-market sports assets so that they become compelling acquisition targets for major global private equity firms like Apollo Global Management or CVC. Caçorino describes this as an ideal “sweet spot,” where APEX can capitalize on the mismatch between smaller sellers and large institutional buyers with deep capital reserves.
The introduction of the $350 million APEX Sports Growth Fund marks a pivotal moment for the firm, signaling its transition from a niche venture investor to a significant force in sports-focused private equity. By targeting an underserved market segment with a structured and technology-enhanced approach, APEX is positioned to play a transformative role in shaping the future of European sports assets while providing fresh capital to teams and leagues seeking sustainable growth.
Source: Forbes