Stadia Ventures, a St. Louis-based accelerator focused on sports startups, has begun fundraising for a new $25 million fund.
As of July 6, Stadia had raised about $3.2 million of that total from 26 unidentified investors, according to documents filed with the Securities and Exchange Commission.
The Stadia Growth Fund is being managed by Webster Groves-based Detalus, a wealth management firm with roots in the St. Louis entrepreneurship community. The fund would allow Stadia to continue its accelerator program and could allow the company to make follow-on investments in its current portfolio.
Stadia was founded by Art Chou, a former Rawlings Sporting Goods executive, and Tim Hayden, St. Louis University’s director of entrepreneurship, in 2015. The company invests up to $100,000 in sports startups and brings the founders to St. Louis for a 12-week mentoring and business development program. To date, it has invested in 25 businesses.
Read more: St. Louis Post-Dispatch