Sharp Alpha Advisors Research
Investment Thesis
Sharp Alpha Advisors is a New York City-based venture capital firm founded in 2019 by Lloyd Danzig, specializing exclusively in what the firm calls "Competitive Entertainment" — defined as any form of recreation where winning matters. The thesis encompasses sports betting, fantasy sports, gaming, esports, sports-themed social venues, and the technology companies powering fan engagement across all of these verticals.
Danzig describes the target market as companies that give people "an adrenaline rush that makes you feel connected to the content you're engaging with, that makes you really lean forward and become enraptured in whatever the activity is." Sharp Alpha invests at the software layer, preferring capital-efficient technology businesses rather than pure content or hardware plays.
Sector Focus
Sharp Alpha's competitive entertainment umbrella covers:
- Sports Betting & Prediction Markets — technology platforms enabling wagering, micro-betting, and prediction-market participation (Kero Sports, Sharp Sports, Betcha)
- Fantasy & Fan Engagement — platforms connecting fans to sports through competition (GridRival, Rimble, ProphetX)
- Gaming & Esports — video games, competitive gaming infrastructure, gaming analytics (C15 Studio, Linq.gg)
- Social Sports & Experiential — physical venues and experiences built around competition (Ballers, Poolhouse, Triumph Arcade)
- Sports Media & Streaming — FAST channels, streaming content, and sports media distribution (C15 Studio, Almost Friday Media)
- Lottery & Consumer Gaming Apps — consumer-facing gaming applications (Jackpot.com)
The firm explicitly avoids hardware and non-competitive entertainment.
Stage Focus & Check Size
Sharp Alpha operates two distinct strategies:
Equity Investments (Fund I & Fund II):
- Fund I ($10M, 2021): ~20 investments at ~$250K average check
- Fund II ($25M+, closed May 2024, oversubscribed): Target $1M–$2M per investment in ~15 startups at Seed stage
- The firm typically leads or co-leads seed rounds and expects to be the first institutional money in
Non-Dilutive Growth Capital (UA Fund I - $150M, closed October 2025):
- Individual checks of $4M–$30M+
- Targets companies that are profitable or near break-even, ready for user acquisition acceleration
- Revenue-share / non-dilutive structure: Sharp Alpha recoups capital from revenue generated by new customers
- Focus on US-based businesses in online gaming, prediction markets, sports media, e-commerce, health & wellness
Recent Activity
Sharp Alpha has been very active in 2025:
- July 2025: Invested in Poolhouse (pool.house)
- June 2025: Co-led $20M Series A in Ballers, alongside athletes Andre Agassi, Tyrese Maxey, and Maarten Paes
- October 2025: Closed $150M UA Fund I (non-dilutive)
The UA Fund represents a significant strategic scale-up, moving Sharp Alpha from seed-stage equity into growth-stage non-dilutive capital for proven consumer businesses in the competitive entertainment space.
Portfolio Highlights
Active Portfolio:
- Ballers — Pickleball/social sports hospitality venues; $20M Series A co-led by Sharp Alpha (2025); flagship in Philadelphia's Turbine Hall
- C15 Studio — London-based FAST streaming channels for Formula 1 and One Championship
- Jackpot.com — Consumer app for purchasing state lottery tickets
- GridRival — Fan engagement platform for motorsports
- Kero Sports — Micro-betting platform
- Sharp Sports — Sports betting data/analytics infrastructure
- Poolhouse — Social billiards venue concept
- SlamBall — Full-contact basketball-football hybrid league on trampolines
- Bezel — Watch marketplace (luxury goods, competitive collecting angle)
- Almost Friday Media — Sports media/comedy brand (Friday Beers)
Exits:
- Betcha Sports → Acquired by Vivid Seats for $25M (December 2021)
- VicTree → Acquired by Divergent Yield Group (November 2023)
Team
Lloyd Danzig — Founder & Managing Partner Before founding Sharp Alpha in 2019, Danzig worked as an analyst, fixed income trader, and data scientist. He holds a degree from the University of Pennsylvania's Wharton School. He is one of the most visible voices in competitive entertainment investing, frequently speaking at industry conferences.
Mihir Kumar — Partner Recently joined Lloyd Danzig at Sharp Alpha to invest globally across stages and structures in sports, media, and entertainment.
Advisory Board:
- Roy Behren — Co-President and CIO, Westchester Capital Management
- Daniel Bernard — Founder and Chairman, Redwood International Sports
- Keith Horn — Founder, Loring Capital Advisors
- Don Kornstein — Vice Chairman, Caesars Entertainment
- Emanuel Pearlman — Former Executive Chairman, Empire Resorts; active board member at multiple companies
Decision Process & Founder Engagement
Sharp Alpha is a small, focused firm. Danzig makes many decisions personally as founder/managing partner, supported by the advisory board. The firm accepts inbound applications via Typeform. Given the niche focus, founders in competitive entertainment will find Sharp Alpha deeply knowledgeable and strategically valuable beyond just capital.
Geographic Focus
Sharp Alpha is headquartered in New York City and invests primarily in US-based companies. The UA Fund explicitly targets US businesses, even if they generate revenue internationally. The equity funds have had some global reach (C15 Studio is London-based).
AUM & Fund Status
- Fund I: $10M (2021) — still has follow-on reserves
- Fund II: $25M+ (May 2024) — actively deploying over 3–5 year horizon
- UA Fund I: $150M (October 2025) — fresh capital, deploying over ~2 years
- Total AUM: ~$185M+