Tennis Australia raises almost $50m for sports and entertainment fund
Backers of AO Ventures, which will identify around 20 potential investments, include major investors such as Tanarra Capital’s John Wylie and Tesla chairwoman Robyn Denholm.
Tennis Australia has raised almost $50 million from major private investors to find and fund entertainment and sport technology start-ups.
With more than one million visitors expected at Melbourne Park over two weeks, Tennis Australia says it wants to use the Australian Open – broadcast to more than 100 million viewers – to test out start-ups and brands.
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Ayesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
