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The Asian University Basketball League (AUBL) has closed its Series A funding round, with Marc Lasry’s Avenue Capital Group and David Blitzer’s Bolt Ventures among the investors.
Key details:
- Funding round was led by Blue Pool Capital, the family office of Brooklyn Nets owner and Alibaba co-founder Joe Tsai
- Other new investors include Chinese basketball icon Yao Ming, Nan Fung Group and venture capital firm HSG (formerly Sequoia China)
- Sportico reports the round was estimated to be worth at least eight figures
Context:
Launched last year, the AUBL’s inaugural tournament attracted more than 29,000 live fans and over 65 million live streaming views. Sanctioned by the Asian University Sports Federation (AUSF), the league has secured partnerships with brands such as Under Armour and JP Morgan Private Bank.
Tsai, who previously invested in the league’s seed round, is now joined by Blitzer and Lasry, meaning that three current or former National Basketball Association (NBA) team owners have invested in the AUBL.
This year, the league will hold a week-long competition in Hangzhou, China, featuring 12 university basketball teams from across Asia, including sides from Japan and South Korea. Teams from the Philippines and Australia will also compete for the first time.
The AUBL will also debut a 16-team home-and-away season in November, running through April 2027.
Comment:
“We’re thrilled to welcome our Series A investors,” said Jay Li, chief executive and co-founder of AUBL. “The response last year to our debut season confirmed what we believed from the start: there is a real appetite for a platform like this across Asia.
“We’re focusing on three priorities right now: world-class event management for home-and-away operations, community engagement centered around students and alumni, and authentic touchpoints to inspire youth through our Hoop Scholars initiative.
“Our ambition is not just to run a league; it’s to spark a movement that turns Asian university sports into a cultural force.”
“Collegiate basketball in Asia is ripe for transformation – and the AUBL has established a pan-regional model that positions it as a leader,” added Lasry, chairman, chief executive and co-founder of Avenue Capital Group.
“Fans are ready to embrace college sports with the same energy that defines its success in the US and Avenue Sports is excited to partner with the league at this important moment.”
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