Dmg ventures invests in Hexagon Cup to launch a premier professional padel tournament, tapping into the sport's rapid global growth and expanding market potential.

Target Information

Hexagon Cup is an innovative organization focused on elevating the profile of professional padel, a racquet sport that combines the elements of squash and tennis. Typically played in doubles format on a court one-third the size of a tennis court, padel's appeal lies in its sociability and accessibility, making it suitable for players across various skill levels. The organization is spearheaded by a team renowned for their successful management of Formula E, who are now venturing into the padel space with a unique and high-profile event schedule.

Industry Overview in Spain

Padel has seen significant growth, particularly in Spain, where it boasts approximately 6 million active players. The sport is at maturity in Spain and has also become increasingly popular in Argentina and Sweden. Recent estimates indicate over 25 million active players in 110 countries, with a considerable rise in participation and viewership anticipated globally. Major TV networks have begun incorporating padel into their sports coverage, reflecting the growing interest and engagement with the sport.

The emergence of professional padel leagues and events is indicative of the sport's booming popularity. Rankings and tournaments are now gaining traction, making padel a viable player