DSTF2 invests
in proven growth and value

After the earlier introduction of DSTF2 and the five verticals in which the fund is active, one strategic choice deserves extra attention: the deliberate shift towards companies later in the growth chain. Whereas the first fund focused on young enterprises with promising technologies, DSTF2 shifts its focus to scale-ups and Series A companies that have already proven their value. Not because early innovation is less relevant, but because it is precisely at this stage that all the conditions are present for sustainable growth, scalability, and an attractive return.

The changed focus is closely linked to the Valley of Death, a well-known phenomenon within venture capital. This is the phase in which startups have an innovative product or technology, but do not yet generate enough revenue to cover their cost structure. The cash burn is high, margins are thin, and the path to profitability is often still uncertain. Many companies fail before reaching market maturity—not due to a lack of vision, but because of a shortage of time and capital.

DSTF1 played an important role in supporting companies that still had to go through this phase. DSTF2 focuses on the next step by investing in companies that have already successfully passed this critical period. They have demonstrated that customers are willing to pay, have repeatable and scalable commercial processes, and manage their organization based on data rather than assumptions. KPIs such as customer acquisition costs and lifetime value are leading in this. As a result, the risk shifts from survival to accelerated growth.

An important advantage of more mature companies is their capital efficiency. In the early stage, capital is often allocated to product development and finding the right market position. That is essential, but also uncertain. In a later stage, it becomes clearer where growth will come from. Investments are then directly linked to concrete scaling activities, such as sales, marketing, or international expansion. The underlying unit economics are transparent and positive, making it easier to predict the effect of additional capital on revenue and value creation. This makes returns more predictable and growth less dependent on luck.

In addition, market consolidation plays an important role. In more and more sectors, including sports technology, especially large American players and private equity parties are actively seeking proven solutions to strengthen their portfolios. European technology with visible traction is particularly attractive in this regard. By investing in companies that have already established a clear position in their market, companies within the DSTF2 portfolio become relevant acquisition or collaboration candidates more quickly. This not only shortens the path to a possible exit, but also increases the strategic options for further growth.

The DSTF2 strategy also demonstrates the maturation of the sport tech ecosystem itself. There is now a broader base of experienced founders, repeat entrepreneurs, professional teams, and rapidly growing communities. Companies are increasingly adept at scaling their activities, expanding internationally, and optimally restructuring their organizations for necessary growth. For investors, this means a higher chance of success and the opportunity to actively contribute to professionalization and international rollout, rather than solely investing in product development and market positioning.

DSTF2 deliberately chooses a position later in the chain. By investing in companies that have already left the Valley of Death behind, the focus shifts from promise to execution. This leads to more capital-efficient growth and a stronger alignment with current market consolidation. Investing within a mature ecosystem means less fundamental risk, a faster path to higher growth and profitability, and a portfolio built on proven traction and returns.

Would you like to know more about the investment opportunities of DSTF2?

The minimum investment is €100,000. We expect to launch DSTF2 in Q4 of 2026, once a few exits from DSTF1 have been realized. You can already express your interest here or download the full information memorandum.