Underdog Fantasy launches $1m fund for RG-geared startup businesses
DFS and pick’em contest operator debuts new GuardDog initiative which includes support from mentors including Chris Grove and ex-FanDuel VP of responsible gaming Adam Warrington
Underdog Fantasy has confirmed the launch of GuardDog, a new investment fund aiming to promote innovation in responsible gambling (RG) through investment in startup businesses.
The DFS and pick’em contest operator has pledged $1m in support and funding to accelerate early-stage startup businesses that focus on building “new and creative solutions” to address problem gambling.
GuardDog aims to identify these businesses and make investments into them, while also aiding through the advice of mentors and investors made up of former regulators, RG experts, and investors.
Mentors include responsible gambling advocate Brianne Doura-Schawohl, former director of the Colorado Division of Gaming Dan Hartman, and Sara Tait, a former executive director of the Indiana Gaming Commission.
Adam Warrington a former VP of responsible gaming at FanDuel, and industry investment veteran Chris Grove, partner at Acies Investments, round out the list of mentors accessible to startups which are selected for funding.
“At Underdog, we always look to adopt best in class and then innovate further. With GuardDog, we intend to spur innovation to help companies that help people play the games they love – including all our games on Underdog – responsibly,” Jeremy Levine, founder, and co-CEO of Underdog said in a release.
“We know there are tons of dreamers, entrepreneurs, and builders out there that can help build a stronger, more responsible ecosystem for all.
“We want to help those innovating in responsibility by providing capital, mentorship, and valuable connections. We’re excited to launch GuardDog and we can’t wait to help some amazing companies,” he added.