In December 2025, APEX, a Portuguese investment firm originally focused on sportstech startups, announced a significant pivot: the launch of a €300 million private equity fund targeting minority stakes in European football clubs and motorsport teams. This move reshapes how sports investments are structured and sparks important questions for entrepreneurs exploring niche markets.
Switching from a venture capital model to private equity is not just about accessing larger funds. It’s about recognizing opportunities that fall between traditional startup investments and major institutional deals. With expertise across disciplines from linguistics to blockchain, I'll share how APEX’s move speaks to female entrepreneurs in Europe, especially those navigating uncharted business spaces.
The APEX Playbook
1. Investment Strategy
APEX is targeting assets valued between €50 and €500 million. Their goal is to secure significant minority stakes (20, 49%) while leaving control in the hands of clubs. The fund will focus 70% of its resources on smaller European football and motorsport teams, 15% on U.S.-based investments such as NBA opportunities, and 15% on outright buyouts. This balanced distribution aims to mitigate risks while capitalizing on untapped growth potential.
For women founders, this approach offers lessons in scalability. You don’t need billion-dollar funds to make high-impact moves; instead, position yourself where expertise and niche opportunities connect.
Lessons Female Entrepreneurs Can Take Away
1. Find the Overlooked Opportunity
APEX has defined its niche: sports teams tempted by commercial gains but hesitant to cede control to large institutions. Entrepreneurs, too, should look for gaps that others might perceive as “too small” or “too niche” but hold great potential. For instance, businesses targeting underrepresented demographics, like women in STEM, are ripe for innovation and growth.
2. Blend Expertise with Demand
Focusing on football and motorsport isn’t random. APEX has prior experience with teams like Alpine F1 and Venezia FC. They’ve demonstrated results and now are scaling based on this expertise. For us as women creating startups, leveraging our own strengths, be it prior industry knowledge, multi-disciplinary insights, or sheer resilience, is critical. You don’t need to be everywhere; you need to excel where you truly add value.
3. Use Tech as a Differentiator
Sports investments, like many industries, thrive on data and tech integration. APEX invests in sportstech companies to accompany its club acquisitions, integrating analytics tools and other innovations into their teams’ operations. Similarly, embedding a tech layer into your business can elevate it, even in traditionally low-tech sectors like education or design. AI, blockchain, or machine learning can set you apart.
The "How-To" for Entrepreneurs
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Define Your Niche: Decide where you’ll play and why. APEX sticks to European clubs for their lower buy-in and untapped commercial value. Where can you find similar gaps that others overlook?
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Think Collaboration, Not Control: Smaller clubs don't want to give up ownership, so APEX offers minority stakes. Likewise, aim to partner, co-create, or consult, not dominate, especially when entering established markets.
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Plan for Cross-Industry Synergy: APEX links sportstech startups to teams under their new fund, cross-pollinating portfolios for mutual growth. Think about how your startup can connect two industries or integrate different services for exponential outcomes.
Avoid These Mistakes
- Overextending Yourself: Scaling too fast or entering over-funded spaces can weaken small operations. Focus on your core strengths.
- Ignoring Market Realities: APEX’s success comes from knowing their European sports market inside out. Conduct rigorous research about your target customers.
- Underestimating Collaboration Needs: You can’t scale alone. Whether it means co-funding, finding a mentor, or forming strategic partnerships, success demands teamwork.
Cool Stats for Female Entrepreneurs
- 85% of startups using niche market strategies report higher alignment with customer needs.
- Over 60% of niche-focused startups reach profitability in under three years.
As someone who bootstrapped her startups without massive venture funding, I’ve seen firsthand how focusing on a clear market niche, like women in STEM for Fe/male Switch, can maximize impact even with limited resources. Small doesn’t mean unambitious, it means targeted.
Wrapping Up
Serial entrepreneurs, especially women in Europe, often face unique barriers to navigating new or niche fields. APEX’s pivot toward private equity showcases a smart model of how combining expertise with untapped opportunities yields strong results. From targeting overlooked assets to integrating tech tools, their approach carries lessons for any founder.
Interested in diving deeper into niche strategies for your businesses? Keep refining where you can deliver the most specialized value. Follow examples like APEX, and you’ll see that scalability doesn’t always come from size, it comes from smart action in the right niches. Explore more strategies for niche entrepreneurship with Fe/male Switch.
FAQ
1. What is APEX's €300M fund targeting?
APEX's €300M private equity fund is targeting minority stakes (20-49%) in European football and motorsport clubs valued between €50M and €500M. Explore APEX's €300M Fund
2. Why did APEX shift from sportstech VC to private equity?
APEX shifted to private equity to explore opportunities between startup investments and large institutional deals, focusing on scaling their expertise in sports assets. Learn about APEX’s pivot
3. What type of businesses is APEX investing in?
APEX is investing primarily in small and mid-size sports assets in Europe, including football clubs, motorsport teams, and selective U.S.-based ventures like the NBA.
4. How does APEX balance their investment portfolio?
APEX allocates 70% of funds to minority stakes in European teams, 15% to U.S.-based investments (e.g., NBA), and 15% to buyouts, ensuring diversification. Check APEX’s portfolio strategy
5. What motivates APEX’s investment strategy?
APEX aims to provide growth capital for small and mid-size sports teams that require commercial and operational modernization without losing full control.
6. How is tech integrated into APEX’s investments?
APEX incorporates sportstech solutions into its investments, such as analytics tools and performance technologies, to enhance operations within sports teams.
7. Who are APEX’s founders and key contributors?
APEX was founded by António Caçorino and Pedro Félix da Costa, with notable investors including F1 stars Lando Norris and Carlos Sainz. Meet APEX’s team
8. What businesses complement APEX’s portfolio?
APEX partners with sportstech companies like TMRW Sports, Output, and ScorePlay to add technological value to its private equity investments.
9. How does APEX mitigate risks in private equity?
APEX mitigates risks by focusing on minority stakes, fostering collaboration rather than control, and targeting undervalued sports assets with growth potential. Understand APEX's risk approach
10. What lessons can female entrepreneurs draw from APEX’s approach?
Female entrepreneurs can learn to blend expertise with niche opportunities, use technology as a differentiator, and focus on scalability by targeting overlooked markets. Gain entrepreneurial insights
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond, launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks and is building MELA AI to help local restaurants in Malta get more visibility online.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about the best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 5,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
- 1,000 unique business ideas for women created
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
