MLS side FC Cincinnati, co-founded by Jeff Berding and Carl Linder III in 2015, is set to become the first professional sports franchise to join Lead One, a pre-seed venture capital fund managed by Lead Sports. The fund, established by the Dassler family of Adidas fame, aims to invest in 10 startups annually, focusing on sports and health sectors such as women’s health, fan engagement, healthcare accessibility, youth sports, and media.
Berding, who also serves as the club’s co-CEO, sees this move into venture capital as a strategic step toward FC Cincinnati’s goal of becoming a "best-in-class organisation." Reflecting on his career, including his time as an executive with the NFL’s Cincinnati Bengals, Berding emphasised the importance of being surrounded by innovative thinkers. “If you’re the smartest person in the room, you’re in the wrong room,” Berding often tells his team.
"This partnership with Lead gives us an opportunity to be in the room with super smart people who can help us with our growth mindset," Berding said. "We can learn and we can help them learn."
The Lead One fund replaces Lead’s previous accelerator program in Lake Nona, Florida, which had restricted investments to founders willing to relocate to Orlando. By partnering with organisations like FC Cincinnati, Lead Sports aims to broaden its investment scope and actively involve investor organisations in evaluating startups and providing real-world testing environments.
Justin Driscoll, Lead Sports principal, highlighted FC Cincinnati’s innovative track record as a key reason for selecting the MLS club as the first to join the fund. "We could have chosen a European club as the first to showcase, but specifically around that reason, FC Cincinnati has their track record of innovating and being friendly with startups."
The partnership is part of FC Cincinnati’s broader strategy to drive positive disruption in sports. "It gives FC Cincinnati very unique access to cutting-edge sports and health tech startups, allowing us to integrate their technology across the organisation, enhancing the experience for fans, our partners, and our community," Berding explained.
By collaborating closely with startups, FC Cincinnati aims to enable real-time market testing and feedback, helping these companies refine their offerings and scale their businesses. Other professional sports organisations are expected to join FC Cincinnati in the Lead One fund, with up to 12 partners anticipated in total.