Florida Funders invest in digital marketplace for athletes
November 10, 2021 -
Tampa-based Florida Funders, a hybrid of a venture capital fund and an angel investor network, announced it has invested in NOCAP Sports, an inclusive digital marketplace that allows athletes, schools and businesses to connect and conduct automated NIL related transactions with full oversight from independent third parties. Florida Funders has invested in NOCAP Sport’s $2.5 million seed round from the Florida Funders’ Fund 2 LLC. NOCAP Sports was founded in May 2020 in response to loosening restrictions on university athletes monetizing their name, image and likeness (NIL) with brands, businesses and fans. The funds will support NOCAP’s efforts to ramp up marketing, platform development, campus ambassador programs, hiring and its HQ expansion in Miami, according to the announcement.