A $60m fund has been set up to roll out a number of new indoor mini-golf venues across the US – the money having been raised by a UK partnership.
Twins Steven and Dave Jolliffe, founders of Topgolf, sold out their golf driving range business for $2bn last year. Now they are funding US operator Puttshack in the expansion of its business.
The Topgolf business was sold by the brothers to golf brand Callaway last October.
Now the Jolliffe brothers are backing Puttshack through its private equity owner Promethean Investments. There are already three venues in London and fourth has opened in Atlanta, US. In April this year, the company announced it had signed a lease on a 28,000sq.ft location in Nashville, US, scheduled to open in the second half of 2023.
The Jolliffes are working with Adam Breeden, the entrepreneur who founded All Star Lanes and Flight Club.