Apex, the athlete-backed sports investment firm, has launched a new fund targeting minority stakes in European sports assets valued between €50m and €500m, as private equity accelerates its push into the sector, Bloomberg says. 

The firm, backed by more than 100 professional athletes including Formula 1 champion Lando Norris and fellow driver Carlos Sainz, plans to focus on smaller assets that have so far attracted less institutional attention despite a surge in global sports valuations. Apex has already invested in the BWT Alpine F1 Team, Venezia Football Club, and Tiger Woods-backed TGL.

Chief executive Antonio Cacorino said the fund is fully structured and has committed capital, adding: “It’s an untapped segment of the market. In terms of size, we want to go one or two layers before large cap and the fact that there’s less competition makes it much more appealing for us.” He declined to disclose the size of the vehicle or details of its first investment.

Private equity and venture capital activity in sports continues to rise. Sports services deals reached $6bn in the first three quarters of 2025, the highest level in at least eight years, according to S&P Global Market Intelligence. The expansion of private ownership rules across leagues has helped push valuations higher, drawing major firms such as Apollo Global Management, Ares Management, and KKR deeper into the market.

Earlier this week, KKR entered talks to acquire a majority stake in Arctos Partners, one of the earliest specialists in sports investing. Cacorino said such transactions strengthen confidence in the asset class and highlight the scale of opportunity across Europe. Analysts expect more funds to explore the lower end of the market as competition increases.

The Apex launch reinforces private equity’s growing role in shaping sports ownership across Europe, where clubs, leagues, and commercial rights continue to attract new capital.

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