Avenue Sports Fund Invests in CityPickle, Supporting Growth of Leading Lifestyle Brand Providing Pickleball in Urban Settings
Summary
The new capital will support CityPickles plans to expand the locations of its permanent, indoor pickleball club concept in addition to strategic activations at iconic landmarks in metropolitan areas.Pickleball has been the fastest-growing sport in the United States over the past four years. CityPickle focused initially on New York City and the Greater New York market, where research suggests 5 to 6 million people played pickleball in 2023, despite limited supply for courts.Co-founded by two female entrepreneurs, Mary Cannon and Erica Desai, in the summer of 2021, CityPickle is addressing the supply-demand imbalance for courts in dense urban areas by building pickleball clubs that combine indoor, bookable courts with a full bar and restaurantmaking it the ideal destination to spend quality time with friends, colleagues, and family. In June 2024 it was announced CityPickle has been selected by NYC Parks to revitalize Anchorage Plaza, the 60,000 square foot space under Brooklyn Bridge, with pickleball courts, public art, community programming, food trucks and more and will debut in Spring 2025. "There is a significant opportunity to provide permanent and pop-up pickleball locations to service the growing and passionate demand for this sport," said Marc Lasry, Avenue Capitals Chairman, CEO and Co-Founder. CityPickle opened its first, permanent pickleball club in Long Island City in 2023, which combines indoor, bookable courts with a full bar and restaurant, making it the ideal destination to spend quality time with friends, colleagues and family.