Swag Golf Raises $10 Million In Growth Funding Led by Verance Capital to Drive Product Growth and Global Expansion
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Financing Round also includes the San Francisco 49ers, Shaun White and Zach LaVine, among others
NORTHBROOK, Ill. & NEW YORK, October 4, 2023-- Swag Golf, the leading premium, limited-edition golf accessory, equipment and apparel company, today announced it has closed a $10 million growth round led by Verance Capital, a prominent New York-based growth investment firm focused on sports and entertainment. Additional participants in the financing included leaders across the sports ecosystem, such as the San Francisco 49ers’ affiliated fund Aurum Partners, three-time Olympic gold medalist Shaun White, two-time NBA All-Star Zach LaVine, Founder of Heights, LLC, Alex Cohen, Howard Lindzon, and former CEO of Libra Solutions Greg Zeeman among others.
This investment will support the company’s innovative product lines, including its next-generation headcovers and putters, allow for greater expansion into new products, increase its presence in the Asia-Pacific marketplace, and accelerate its manufacturing capacity, ultimately allowing Swag Golf to meet growing demand from its collector base.
"I founded Swag after spending many years in the golf industry and noticing a distinct lack of original expressive design and quality. This investment will help us broaden our incredibly innovative product base,” said Nick Venson, Swag Golf's founder and CEO, who spent over 19 years in the golf industry before founding Swag Golf. "Our limited edition, premium product releases typically sell out in minutes. With this investment, we will be able to increase our manufacturing capacity to meet increased demand and satisfy our ever-growing customer base while enabling us to innovate on the next generation of Swag’s product lines.”
This expansion comes at a pivotal time for the broader golf industry, which has experienced incredible growth over the past several years, driven by a younger, more diverse audience. The industry has experienced double-digit growth in total rounds played vs. pre-COVID, a vibrant collector's market, and a continued resurgence in PGA TOUR viewership. Swag Golf has embodied the change taking place in the golf world and is now represented by top athletes on the PGA and LPGA TOURS.
“Since embarking on our journey to disrupt the golf industry in 2018, we have been humbled by the insatiable demand for our products and are grateful for our loyal, passionate customer base,” continued Mr. Venson. “We are thrilled to partner with Verance Capital and the rest of our industry-leading investor group as we embark on our next growth phase. Their expertise across the sports and media ecosystems will help us accelerate our value proposition and capture a larger share of the growing golf merchandise and collectibles market through international expansion, new partnerships, and increased manufacturing capabilities."
“We are thrilled to partner with Nick Venson and his team to help accelerate Swag’s mission to transform the golf industry,” said Lyle Ayes, founder and CEO of Verance Capital. “Swag Golf is a proven disrupter in the space that has successfully tapped into the collector psyche by offering premium, exclusive, and differentiated products. The company is poised to capitalize on the extraordinary demand for its products and the strong macro tailwinds in the golf industry and we’re excited to be part of that journey.”
Each Swag headcover combines bold, unique designs with industry-leading craftsmanship, becoming the gold standard in the headcover space in under six years. Swag’s putters are methodically engineered and precisely milled utilizing 303 American Stainless Steel, emphasizing machining and thus eliminating the need for constant polishing. Swag’s quality and the time and care invested in its products is shown through a consistent sweet spot and weighting trusted by PGA TOUR and LPGA TOUR professionals every week.
In 2020, Swag acquired Ecktron Performance ("EP"), a Georgia-based manufacturer, to vertically integrate its headcover production in the United States and expand into the wholesale business across country clubs, the PGA TOUR, and other licensing partners. In 2021, Swag ambassador Anna Nordqvist won the British Open using a Swag-produced putter, which led to multiple Korn Ferry players adopting Swag Golf putters and the signing of its first PGA TOUR ambassador in Nick Hardy. In his first year using a Swag putter, Hardy won his first PGA TOUR event at the Zurich Classic in April 2023, propelling him to a career-best 52nd place finish in the FedEx Cup rankings.
About Swag Golf
Headquartered in Northbrook, Ill, Swag Golf has produced precision-milled putters, unparalleled headcovers, accessories and apparel since its inception in 2018. With a Don't Give A Putt™ attitude, Swag Golf has built a reputation for high-end precision and is one of the most sought-after companies in the golf space. With a typical sell-out time of mere minutes, Swag has a loyal following and continues to expand its presence in the golf community and beyond. The company has several high-profile partnerships– PGA TOUR professional Nick Hardy, LPGA professional Anna Nordqvist, Instagram sensation Paige Spiranac, and 3x World Series Champion Jon Lester. Licensing agreements include MLB, McLaren Formula 1 Team, Kraft-Heinz, WWE, Capcom, Topps, Vienna Beef, and more. Fans are encouraged to follow along for the latest company updates, product releases and ambassador signings at @SwagGolfCo on Discord, Instagram, Facebook and Twitter.
About Verance Capital
Verance Capital is a growth investment firm focused on sports, media, and live entertainment, including the technology and software that power these sectors. Verance takes a flexible and long-term approach to investing, leveraging industry expertise and an expansive global network to drive success for its partners. For more information, visit www.verancecap.com.
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