For those that don't know, angel investing is when an individual or investment fund provides capital to a company (usually a startup) in exchange for ownership or convertible debt.
If you're familiar with angel investing AND also interested in sports, I have some good news for you.
Moonshot, a Y Combinator-backed startup is providing a platform that allows individuals or companies to invest in athletes before they (potentially) make it big.
How it works
- Athlete Listing: Moonshot works with the athlete to establish a fair income share agreement. Details of the athlete are then published on the platform and fundraising begins.
- Support from backers: Investors have the option to back the athlete with an investment. If an individual decides to invest, they'll receive a contract in return that stipulate the terms of the agreement.
- Share the success: If/when the athlete turns pro, they share a portion of their earnings with their investors via the Moonshot platform.
Moonshot co-founders Dimitris Nikolaou and Youssef Rizk are both graduates from Imperial College London and former Palantir employees.
Youssef grew up playing tennis competitively and reached the national level in Egypt.
The idea is a really cool experiment. The first thing that came to mind is how funds are tracked. Investing in young athletes is different than investing in an established startup. Do athletes need to track and submit their expenses?
Moonshot states that athletes currently request anywhere from $50K to $500K to help back their journey.
Perhaps the motivation to succeed as an athlete will overpower the urge to frivolously spend their funding capital.
I'll be checking out the Beta Launch which occurs this month.
If interested, you can join the Backer's Waitlist here.
What do you think of Moonshot?