Pickleball Investment Fund LP
Growth-Focused · Thesis-Driven · Operator-Backed
$10M
Target Raise
$25K
Minimum
8%
Preferred Return
3x+
Target Net MOIC
For accredited investors only · Offered under Reg D, Rule 506(c)
Fastest-Growing Sport.
Infrastructure Hasn't Kept Pace.
48.3M
Americans played in the past 12 months
Source: APP 2025
#1
Fastest-growing U.S. sport, 5 years running
Source: SFIA
10.2 %
Projected market CAGR through 2032
Source: Market.us
$ 9.1 B
Global market by 2034 (from $2.2B today)
Source: Market.us
$2.2B today
$9.1B by 2034
A 4x category expansion over the next decade — with no dedicated institutional capital positioned to capture it.
An operator-led fund with proprietary deal flow, board-level control, and positions across every layer of the fastest-growing sport in America.
— PDI Capital Thesis
Sources: APP Tour · SFIA · Market.us · USA Pickleball
Four Pillars. One Ecosystem.
PDI Capital invests across four interlocking layers of the pickleball value chain — each independently durable, together a foundation.
Facility Infrastructure
Equity in leading indoor franchisors with proven unit economics, recurring royalties, and paths to national scale — the anchor revenue layer of the portfolio.
Why it wins
Operator-tested unit economics. Royalty compounding.
Technology & Data
Scheduling, community, and deal-intelligence platforms every facility and player depends on. Network-effect businesses with low marginal cost.
Why it wins
Embedded across the operator network — the digital connective tissue of the category.
Financial Solutions
Commercial lending and financing infrastructure for new courts and facilities. Captures value across the category regardless of which operator or brand wins.
Why it wins
Brand-agnostic exposure to the entire category build-out.
Supply Chain & Logistics
Court surfaces, materials, and a national installer network. Every PDI-backed facility is a captive customer; every other facility is a sales target.
Why it wins
Vertical integration with embedded, recurring demand.
More Than Capital.
A Hands-On Partner.
We take active positions and work shoulder-to-shoulder with founders — board seats, org-building, and operating support. Our portfolio companies want our input, not just our capital.
5+ Years Inside the Industry
Emerged from an active consulting practice serving pickleball operators and franchisors. We've seen the books and built the relationships that matter.
Operator-Led, Not Observer-Led
A founding team that has built and scaled real businesses with significant revenue and headcount.
Proprietary Deal Flow
Direct relationships with top-tier operators across the US and Canada — access before the broader market.
Anchored in Cashflowing Businesses
Not pre-revenue bets. Anchor positions in Fund I are operators already generating revenue. The thesis is proven at entry.
Operators Who Have Built This Before
Dave Conord
Chief Executive
110x
Mkt cap growth (NASDAQ)
$11B
Peak enterprise value
90k
Operators in 24 countries
$6B+
Revenue scaled, prior role
Growth operator and turnaround CEO with nearly three decades building and restructuring companies. Scaled a NASDAQ-listed company from $100M to $11B peak market cap.
Frank Panunto
Chief Real Estate & Ops
5
Franchise turnarounds
30
Years in franchise ops
25+
Locations operated
1K+
Real estate closed
Turnaround operator proven to turn losing franchises into profitable, award-winning businesses. Decades perfecting processes to profitability across multi-industry companies.
Austin Sipple
Managing Director, Investments
$100M+
Real estate closed
~10 yr
Underwriting experience
UHNW
Wealth mgmt background
Multi-Mgr
Fund-of-funds construction
A decade of institutional underwriting and $100M+ in closed real estate. Built fund-of-funds vehicles for UHNW families. Sources, structures, and underwrites every PDI position.
Fund Terms
Target Fund Size
$10,000,000
Minimum Commitment
$25,000
Preferred Return
8% per annum
Carried Interest
20% GP / 80% LP
Management Fee
2.0% → 1.5% → 1.0%
Structure
Reg D Rule 506(c) LP
Eligible Investors
Accredited Only
Fund Life
8 Years
3x +
Targeting net MOIC over an 8-year fund life.
8% preferred return accrues from day one. Refinancing windows years 4–6 designed to return capital before final exit.
100% consulting fee offset. Consulting fees PDI earns from portfolio companies are offset against the management fee — we never double-charge for work inside our own investments.
First Close: July 31, 2026
Sign the NDA, receive the full investor package, and walk the portfolio with us.
Ready to invest in the Pickleball Investment Fund LP ?
Request the full package — named portfolio, allocations, and pro forma. Accredited investors only, Reg D 506(c).
This presentation is for informational purposes only and does not constitute an offer to sell or a solicitation to buy any security. Interests are offered solely to accredited investors pursuant to Regulation D, Rule 506(c). Forward-looking statements are illustrative; actual results may vary materially. Detailed terms are governed by the Limited Partnership Agreement and Private Placement Memorandum, which take precedence over this document. Past performance is not indicative of future results.