Carlos Sainz and Lando Norris have teamed up to back a new €50 million athlete-driven investment fund alongside Valtteri Bottas and a whole host of athletes from other arenas.
The ‘Elite Performance Fund’, put together by Portuguese investment firm Apex Capital, is set to leverage the insight and experience of its athlete partners to engage with start-ups in sports, media and entertainment.
Joining the likes of Sainz, Norris and Bottas in backing the new fund (launched on Monday 5 September) are footballers Raphaël Varane, Christian Eriksen, Jan Vertonghen, Luuk De Jong, Olympian surfer Kanoa Igarashi, plus Formula E aces Antonio Felix da Costa and Mitch Evans.
“We are thrilled to unveil the Elite Performance Fund, a dynamic platform that utilises Apex’s track record in combination with the unique perspectives of accomplished athletes,” said Apex chief executive António Caçorino.
“Athletes aren’t just our capital sources; they’re our partners. They infuse our decisions with genuine insights from their respective sports.”
Sainz, Norris and Bottas are part of a growing trend amongst Formula 1 drivers to invest their wealth in business enterprises.
Entrepreneurship and F1 is perhaps best exemplified by Lewis Hamilton, who, along with having recently started his own film production company, is an investor in the Denver Broncos NFL franchise, numerous plant-based food enterprises, the online grocery app Zapp and more.
Business enterprises aren’t just limited to Hamilton, however, with the likes of Daniel Ricciardo lending his name to his own brand of wine and Norris’ ever-expanding e-gaming enterprise Quadrant.
The trio of drivers backing Apex Capital’s Elite Performance Fund is just one more example of how being an F1 driver isn’t just about racing cars in the modern era.