Music superstar Drake has become an investor in Serie A football club Venezia FC as part of a consortium led by APEX.
The global investment firm confirmed Drake’s involvement as a new investor in the club after a recently reported $40m fundraising round. The Canadian, as well as a host of other investors, will look to consolidate Venezia’s position in the Italian top-flight.
Drake’s involvement will also see a collaboration between his NOCTA-owned apparel brand – also a subsidiary of Nike – and Venezia, potentially taking over from Kappa as the club’s new shirt sponsor.
Furthermore, DrewCrew, Drake’s agency, will be closely involved in the club’s commercial, e-commerce and merchandise strategy to ensure a crossover between culture and sports.
The move from the Canadian rapper marks his first foray into European football and has a deep interest in a myriad of sports including basketball, being an Ambassador for his native team, the Toronto Raptors.
Matte Babel, Drake’s Chief Brand Officer, spoke on the deal: “I got a call from Brad (Brad Katsuyama, Co-Owner of Venezia), a close friend of mine. He laid out the problem, Venezia needs to raise €10m in a couple weeks and then at least €30m in a few months, or the club will go bankrupt.”
“Venice is an incredible city and Venezia has always been a special club. I spoke to Drake, then Brad and I discussed how we could help. Within two weeks we settled on terms and raised the money needed to make payroll and avoid bankruptcy.”
APEX, a leading global investment company, has a growing portfolio that includes investments in the Alpine F1 Team and the Bay Golf Club, one of the six franchises competing in the PGA-backed TGL Golf League.
