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.

We want to thank Golf Genius Software for supporting The ModGolf Podcast since 2019!
Are you a golf course owner, manager or operator looking to increase both your profit margins and on-course experience?

Golf Genius powers tournament management at over 10,000 private clubs, public courses, resorts, golf associations, and tours in over 60 countries. So if you’re a golf professional or course operator who wants to save time, deliver exceptional golfer experiences, and generate more revenue, check them out online at golfgenius.com.

Join our mission to make golf more innovative, inclusive and fun... and WIN some awesome golf gear!

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.

I'm excited to announce that I just launched our ModGolf Patreon page to bring together our close-knit community of golf-loving people! As my Patron you will get access to exclusive live monthly interactive shows where you can participate, ask-me-anything video events, bonus content, golf product discounts and entry in members-only ModGolf Giveaway contests.

I'm offering two monthly membership tiers at $5 and $15 USD, but you can also join for free. Your subscription will ensure that The ModGolf Podcast continues to grow so that I can focus on creating unique and impactful stories that support and celebrate the future of golf.

Click to join >> https://patreon.com/Modgolf

I look forward to seeing you during an upcoming live show!... Colin

Special Guest: Matt Erley - Managing Partner at Old Tom Capital.

If you didn’t get the chance to listen to all of our twelve Season 17 episodes, this bonus show gives you a recap of the great conversations I had with some of the golf industry's top influencers, innovators and entrepreneurs. Hopefully this will inspire you to listen to a couple of the episodes listed below. Let us know which ones you enjoyed the most and why you liked them!

Our Season 17 guests were:

Episode 1
LIVE From The 2025 PGA Show Media Stage! - Part 2
Hazel Thompson Founder and CEO of Excelerator Luxury Golf Tours
This episode takes on a travel theme, as you will discover how to simplify the effort and complexity of transporting your clubs. And if you are considering a golf getaway with friends to Ireland, we have the person that can help make your dream trip a reality. We pick up where we left off at the end of last season where ModGolf was invited back to cover The 2025 PGA Show and host Colin Weston recorded four engaging conversations with golf industry innovators on the Show Floor Media Stage. First up on Episode 1 is Hazel Thompson, Founder and CEO of Excelerator Luxury Golf Tours who helped Colin plan his May 2025 Irish golf trip. ☘️

Jonathan Marsico CEO of Ship Sticks
Our second conversation at The PGA Show Media Stage was with Jonathan Marsico, CEO of Ship Sticks. During Colin's conversation with Jonathan you will discover how to take the hassle, complexity and effort out of travelling with your golf clubs. You'll also learn how Jonathan and his co-founder went from an idea that addressed a personal pain point to a scaleable, profitable business.
Click to listen >> Live From The 2025 PGA Show Media Stage! - Part 2

Episode 2
Jeff MacGregor - Founder of The Cart Locker
Have you struggled to find balance when juggling the launch of a new business venture while keeping your existing job? On this episode you will discover and learn how Jeff MacGregor manages to maintain the position he loves as a Head Golf Pro while overseeing a startup that is quickly scaling up.
Click to listen >> Turning a Side Hustle Into a Successful Business Venture

Episode 3
Gina Louise Phillips - Actor, comedian, writer and golf personality
"So I take an improv mindset. It's all about fun. It's all about what happens next." Gina Louise Phillips combines her comedic, writing and acting experiences to inject a fresh perspective into the golf industry. Join us as Gina shares how her journey on shows like The Last of Us with Pedro Pascal and co-hosting Score Golf TV has inspired her to write and develop a golf-themed sitcom called Squat Valley Golf about a dysfunctional family run public course on the brink of bankruptcy.
Click to listen >> Applying an Improv Mindset to Golf

Episode 4
Agustín Pizá - Principal at Pizá Golf
First appearing on The ModGolf Podcast back in November 2021, Agustín (Augie) Pizá rejoins us to pull back the curtain on his design inspiration and process as he walks us through six of the fun and challenging holes he and his Pizá Golf team created for TGL.
Click to listen >> Revealing The Process and Inspiration Behind Designing TGL Golf Holes

Episode 5
Don Rea - PGA of America President
"On the PGA Tour, they play for millions and at The PGA of America we get millions to play." PGA of America President and Owner/Operator of Augusta Ranch Golf Club Don Rea joins host Colin Weston to share his 25 year journey advocating for the game and industry that he deeply loves.
Click to listen >> It's The Banter Not The Birdies That Matter Most

Episode 6
Matt Williams - Co-Founder of Noonan Caddie
"Life is short. I’m committed to spending it doing what I love." Matt Williams, Co-Founder of Noonan Caddie joins us to share how you can make better on-course shot selection decisions that will result in less blowup holes and lower scores.
Click to listen >> Increasing Your Odds For On-Course Swing Success

Episode 7
Pete Charleston - President and Co-Founder of GolfLogix
Never played the course you just booked a tee time on? No problem. You can preview each hole in immersive simulator-quality graphics before you play.” Pete Charleston - President and Co-Founder of GolfLogix joins us again after his original appearance back in 2018 to bring us up to speed on their newest innovations that include 3D virtual reality hole flyovers.
Click to listen >> Helping Golfers Play Smarter and Make Better Decisions

Episode 8
Graeme McCubbin and Kenny Pallas - Co-Founders of The Links Diary
"We were bored with mainstream media and how they portray golf. We felt disenfranchised with that side of golf and thought, "Wouldn't it be cool if we did something different?" That is why we created The Links Diary." Host Colin Weston sits down with two of the four Links Diary Co-Founders Graeme McCubbin and Kenny Pallas for a chat to learn about the magazine they so passionately create.
Click to listen >> Crafting Beautiful Stories From The Home of Golf

Episode 9
Cory Powell - Co-Founder of Hubble.GOLF
"It's much bigger than myself. What really excites me and keeps me moving every single day is to do something that truly grows the game and has some legacy behind it." Co-Founder Cory Powell joins Host Colin Weston to share the entrepreneurial backstory leading up to the recent launch of Hubble.GOLF
Click to listen >> Creating "The Expedia For Golf Tournament and Event Planning"

Episode 10
TJ Schier Jr. - CO/Founder of SmashSwing Immersive
"We look to attract and appeal to the "golf curious" with SmashSwing". Host Colin Weston speaks with TJ Schier Jr., the founder of SmashSwing Immersive. They discuss the intersection of entrepreneurship, innovation, and the golf industry, highlighting TJ's unique approach to creating an engaging indoor golf experience that anyone can play.
Click to listen >> Transforming The Golf Entertainment Gaming Experience

Episode 11
Dr. Richard Berger and Teddy Koukoulis - Outpatient Hip and Knee Surgery
In this milestone episode of The ModGolf Podcast, host Colin Weston celebrates the 200th episode with two remarkable guests: Dr. Richard Berger, a pioneering orthopaedic surgeon, and his knee replacement patient Teddy Koukoulis, who is an avid golfer and PGA teaching pro. They discuss Dr. Berger's minimally evasive knee and hip replacement techniques that are transforming the outcomes and recovery process for golfers, high performance athletes and everyday people wanting to remove the burden of chronic pain and reclaim their quality of life.
Click to listen >> "The Innovation Behind The Incision" Helping Golfers Reclaim The Game They Love

Episode 12
Paras and Bryan Gore - Co-Founders of Swing Sports and Golf She
On this inspiring episode of The ModGolf Podcast, host Colin Weston sits down with Paras and Bryan Gore, the visionary co-founders of Swing Sports and Golf She. Together, they discuss their journey in the golf industry, the challenges they faced, and their mission to elegantly empower women both on and off the golf course.
Click to listen >> Elegantly Empowering Women Both On and Off The Golf Course

We want to thank Golf Genius Software for presenting this episode of The ModGolf Podcast!
Are you a golf course owner, manager or operator looking to increase both your profit margins and on-course experience?

Golf Genius powers tournament management at over 10,000 private clubs, public courses, resorts, golf associations, and tours in over 60 countries. So if you’re a golf professional or course operator who wants to save time, deliver exceptional golfer experiences, and generate more revenue, check them out online at golfgenius.com.

Join our mission to make golf more innovative, inclusive and fun... and WIN some awesome golf gear!

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.

I'm excited to announce that I just launched our ModGolf Patreon page to bring together our close-knit community of golf-loving people! As my Patron you will get access to exclusive live monthly interactive shows where you can participate, ask-me-anything video events, bonus content, golf product discounts and entry in members-only ModGolf Giveaway contests.

I'm offering two monthly membership tiers at $5 and $15 USD, but you can also join for free. Your subscription will ensure that The ModGolf Podcast continues to grow so that I can focus on creating unique and impactful stories that support and celebrate the future of golf.

Click to join >> https://patreon.com/Modgolf

I look forward to seeing you during an upcoming live show!... Colin

Special Guests: Agustín Pizá - Founder and Architect with Pizá Golf Design, Cory Powell, Co-Founder of Hubble.GOLF, Don Rea - President, PGA of America and Owner/Operator of Augusta Ranch Golf Course, Dr. Richard Berger, Founder of Outpatient Hip and Knee Surgery, Gina Louise Phillips - Host, Producer, Writer, Actor and Golf Personality, Graeme McCubbin - Creative & Photography with The Links Diary, Hazel Thompson - Founder & CEO of Excelerator Luxury Golf Tours, Jeff MacGregor - Founder of The Cart Locker, Matt Williams, Co-Founder of Noonan Caddie, Paras Gore - Co-Founder of Swing Sports and Golf She, Pete Charleston - GolfLogix Co-Founder and President, TJ Schier - CEO/Founder at SmashSwing Immersive, and Teddy Koukoulis, elite level golfer and Dr. Berger knee replacement recipient.

First appearing on The ModGolf Podcast back in November 2021, Augie rejoins us to pull back the curtain on his design inspiration as he walks us through six of the fun and challenging holes he and his Pizá Golf team created for TGL.

Are you a watcher more than a listener? Then you can watch our video with Augie on The ModGolf YouTube channel as he walks us through his inspiration and process on six TGL hole designs. Click on this link or the image below as Colin and Augie discuss how their mutual backgrounds in architectural design influence their creativity in the golf space.

Here are images of all six holes that Augie shares with us for you to take in while listening to the podcast:

The Plank Teams will need to walk “The Plank” as they navigate this uphill hole with tricky diagonal bunkering. For this short 380-yard par 4, it could be tempting for teams to go for the driver, but 3 pot bunkers narrow the landing area adding risk to the aggressive play.

Agustín says: "For The Plank, we wanted to design something simple but also something that required you to think through your shots. To achieve this, we positioned the bunkers to create several dynamic diagonal lines across the hole."

"When you stand on the tee box, that positioning gives you the sensation of, ‘Oh, it’s full of bunkers, there’s nowhere to land my ball!’ But obviously that’s not the case, you have several landing areas and platforms to access. The Plank is designed to be a drivable par-4, depending on the wind, but the strategy will change if it’s a crosswind versus wind at the players’ backs. If less than a driver is chosen off the tee, a well-placed tee shot still leaves a short approach and great chance at birdie."

Pick Yer Plunder Set in Bounty Bay, this hole is the ultimate match play par 5. From the gold tee, players are faced with three options. The riskiest, and by far most rewarding choice, is going straight over the guardian bunker to a 27-yard-wide fairway, requiring a 300-yard carry.

Choosing the right option, the fairway is just 37-yards-wide and requires a 285-yard carry. With a solid drive, players will be left with less than 250 yards remaining. The safest play is to the left, where the fairway is 70 yards wide. But the further left you miss it, the more blind and long your second shot will be.

Agustín says: "A 590 yard par 5. The hole idea is you can take that middle section and you will be rewarded. You will only have a 200 yard shot to the GreenZone to get on in two. The alternative is to play the right arm or the left arm. You will have to play the second shot on a high cliff or a low cliff. This hole not only plays with your psyche on ways of playing it, but also where you land could create some blind shots and some other challenges that you probably were not expecting."

On The Rocks This stunning downhill par 3 hangs off the edge of a cliff in the North Sea of Scotland. The green sits on a 41-yard-wide island that replicates the exact same-sized turntable in TGL's GreenZone at SoFi Center. Players will be tempted to be aggressive, most will likely have a short iron in hand, but any slight misjudgment and a team may quickly find themselves On The Rocks.

Agustín says: "This is one of the last designs that we created, it's a par 3 that sits right on the cliffs. What we did very special here, is we took the GreenZone and just erased everything, all the surroundings, and kept the turntable. We have five distinct tee boxes. The first two tees are right in the center and they are somwhere between 100 yards and 130 yards. On the sides, the tee boxes spread out to ask for a fade or for a draw. If you go towards the furthest one out, it'll ask for a draw and it's 180 yards out."

Sidewinder A high trajectory right-to-left tee shot will reward teams with Position A on this reachable Par 5, while bunkers dot the approach to the green, which sits beyond a small ravine. While the design is similar to Serpent, the penalty areas have been minimized with the intention for Sidewinder to have a bit less bite.

Agustín says: "You can take the conservative route on the right and if you hit over 290 to 310 yards you will get that speed slope onto position A. If you try to clear the left side and be more aggressive you will get rewarded even more. If you cannot get home in two then you will have to find a very good strategy to attack the GreenZone. You have to choose whether you want to lay your ball on the left or the right and that will be dictated by where the flag is played."

The Spear A close relative of Temple, teams will face a simple risk vs. reward choice when teeing off on The Spear. The design places a pinch point right around the PGA TOUR average carry and gives players a choice to either hit a long and straight tee shot past the pinch point, or lay up short and play to the green in three.

Teams that hit the ball short of the pinch will have plenty of room to lay up as they progress towards the green. Players that are able to execute the risky drive and land safely are then rewarded with a green light to go for the floating GreenZone in two.

Agustín says: "The Spear is a full par 5. Architecture at the end is about playing with form and we started to create this hole by playing with triangles and we came up with The Spear. It pinches away on the fairway at approximately 300 yards, give or take. That's where it's going to make players think, with a crosswind likely a key factor in play, too. The strategy is right there in your face. It's a heroic hole. Do you want to lay up to guarantee a three shot hole or do you want to try to clear it and take that risk as it opens up in a very generous way? You'll have a very good chance of getting home in two if you clear the pinch successfully."

Temple is a hole design inspired by ancient civilizations and based on simplicity, the art form of two triangles facing each other to create a unique risk vs. reward with its hourglass shape. The choice off the tee is whether to carry the narrow intersection where the opposing triangles meet, or to lay up short and run the risk of a 240-yard or longer shot into the green. From the tee box, the fairway reaches its narrowest point at 285 yards before it widens again. The entire hole is surrounded by penalty areas and wind will be a factor within the virtual setting, complicating the decision for teams.

Agustín says: "Temple is a par 4 playing over 500 yards that we found in the mountains of South America. This is a very special design because it plays with simplicity. With just two forms - two triangles pinched in the center - it can give us so much excitement and strategy, and we have placed the green in a position to reward the most aggressive shots off the tee."

Want to connect with Augie? Visit his bio page for contact information. And visit The TGL website to learn more about all 29 holes designs that were available for the 2025 TGL season.

Join our mission to make golf more innovative, inclusive and fun... and WIN some awesome golf gear!

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.

I'm excited to announce that I just launched our ModGolf Patreon page to bring together our close-knit community of golf-loving people! As my Patron you will get access to exclusive live monthly interactive shows where you can participate, ask-me-anything video events, bonus content, golf product discounts and entry in members-only ModGolf Giveaway contests.

I'm offering two monthly membership tiers at $5 and $15 USD, but you can also join for free. Your subscription will ensure that The ModGolf Podcast continues to grow so that I can focus on creating unique and impactful stories that support and celebrate the future of golf.

Click to join >> https://patreon.com/Modgolf

I look forward to seeing you during an upcoming live show!... Colin

We want to thank our Episode Presenting Partner Golf Genius Software who have supported The ModGolf Podcast since 2019!
Are you a golf course owner, manager or operator looking to increase both your profit margins and on-course experience?

Golf Genius powers tournament management at over 10,000 private clubs, public courses, resorts, golf associations, and tours in over 60 countries. So if you’re a golf professional or course operator who wants to save time, deliver exceptional golfer experiences, and generate more revenue, check them out online at golfgenius.com.

Special Guest: Agustín Pizá - Founder and Architect with Pizá Golf Design.

Click on the image below to check out our extended conversation with Augie on our Youtube Channel!

Want to learn more about Pizá Golf Design? Visit their website to see how they are passionately generating successful and profitable golf architecture projects.

You can learn more about Agustín on his bio page.

Show Notes and Augie Quotes
"Eventually when I graduated from architecture, I said "why can't I mix in golf?" So every afternoon I went to practice golf and then I got it. Now I understood the nature of it and the patience of it. I got the 360° of the golf course - the trees, the atmosphere, the freshly cut grass. I started to feel it and that was my sign to fuse my two passions: architecture and sports through golf architecture. And since then, I haven't looked back."

Special Guest: Agustín Pizá - Founder and Architect with Pizá Golf Design.