"Golf has been experiencing incredible growth and innovation and will continue to do so. But behind every great idea is a spark of capital and there was a gap. Broader sports investors weren't really paying attention to the category, and we thought, 'Maybe there's a huge opportunity here.'"
Matt Erley is the Managing Partner of Old Tom Capital, a pioneering investment fund specifically focused on early-stage golf and golf-adjacent companies. With a career spanning operational roles and angel investing, Matt co-founded the firm to address a critical gap in the market, providing strategic capital to the innovators shaping the future of the $100 billion golf industry. Named as an homage to the legendary innovator Old Tom Morris, the fund embodies a belief in golf's resilient growth and the transformative power of backing great founders in spaces like agronomy, golf software, emerging media, and the "golf light" experience economy.
During this episode you will discover these inspiring takeaways:
1. The "Unfair Advantage" for Founders
Discover how an investment from Old Tom Capital is more than just money; it's a strategic partnership designed to give your company a leg up on the competition.
Matt Erley reveals that their goal is to provide portfolio companies with an "unfair competitive advantage" through their deep network and operational expertise. Unlike passive investors, Old Tom actively helps its companies by making key introductions, offering strategic guidance, and leveraging synergies across their entire portfolio. For any founder or aspiring entrepreneur, this insight into what a true value-add investor looks like is invaluable and reveals how the right capital partner can accelerate growth.
2. The "Golf Light" Revolution
Learn about the massive, under-the-radar investment trend that is making golf more accessible and creating the next wave of golfers.
Move beyond traditional 18-hole courses and Topgolf. Matt introduces the compelling narrative of "Golf Light"—the high-growth category encompassing driving ranges, par-3 courses, and short courses. He explains why this segment is perfectly positioned to capture the new, "golf-curious" audience looking for a faster, less expensive, and more social experience. His investment in Blue Jeans Golf exemplifies this thesis, highlighting a huge opportunity to "glow up" thousands of independent driving ranges across the country.
3. How to Actually Get Noticed by a Golf Investor
Cut through the noise and learn the specific milestones and mindset you need to successfully secure funding for your golf venture.
Matt pulls back the curtain on Old Tom's investment process, offering a clear roadmap for founders. He explains why they typically avoid very early-stage "ideas" and what they look for instead: tangible momentum, initial monetization, and a clear path to a $100M+ business. He also debunks common mistakes, like leading with an NDA, and emphasizes the importance of simply starting to build and validate your concept in the accessible golf ecosystem. This practical advice is a must-listen for anyone serious about building a golf business.
Episode Chapters:
00:00 - Introduction: The Capital Behind Golf's Innovation
02:18 - The Old Tom Capital Origin Story
04:08 - Building Conviction and the First Investment
07:50 - The Evolving Ecosystem of Golf Capital
10:26 - A Day in the Life: How Old Tom Vets Deals
13:15 - Advice for Founders: From NDA to Action
17:24 - Portfolio Deep Dive: Grass League & The Future of Golf Media
20:14 - Portfolio Deep Dive: Blue Jeans Golf & The "Golf Light" Revolution
28:23 - Creating Synergy: The LVMH of Golf?
31:29 - The Investor's Role: More Than Just a Cheque
36:39 - Navigating the AI Hype in Golf Innovation and Tech
41:03 - The Lightning Round: Tin Cup, Tech, and Dream Foursomes
45:08 - How to Connect with Matt and What Makes a Fundable Business
Quotable Moments from Matt:
On the unique opportunity in golf:
"Golf has historically been a very sexy category to invest in, but it needs advocates internally who are showing outside investors that these are great places to invest because golf needs more capital. It's not going to just come from us. It needs to come from a lot of sources."
On the philosophy behind their investments:
"The moment we write a check, we like to think that we give that company an unfair competitive advantage because of who we are and what we put into it and the network that we've built."
On the massive shift in how golf is consumed:
"More people watch golf on YouTube than all linear television golf combined. And it's not cannibalizing the PGA Tour it's just being additive."
Are you more of a watcher than a listener? Then enjoy our video with Matt on The ModGolf YouTube channel. Click on this link or the image below.
Want to connect with Matt? Check out his bio page to make that happen!
Matt Erley's bio page >> https://modgolf.fireside.fm/guests/matt-erley
Are you an innovative founder struggling to find investors who truly understand the golf industry? Discover what it really takes to get funded in today's golf market as Matt shares how his firm provides an "unfair competitive advantage" and the one thing he tells every aspiring founder to do first. Visit the Old Tom Capital website to learn more and to connect.
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As the creator and host of The ModGolf Podcast and YouTube channel I've been telling golf entrepreneurship and innovation stories since May 2017 and I love the community of ModGolfers that we are building.
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I look forward to seeing you during an upcoming live show!... Colin
