Murray and Brownlee-linked Redrice backs £3m Pro Climbing League raise

The Pro Climbing League (PCL) has secured £3.2m in investment ahead of its debut season in 2024, led by venture firm Redrice Ventures, which includes Andy Murray and Alistair Brownlee as associate partners. Other investors comprise Active Partners, known for backing Rapha and Finisterre, and Accelerate Ventures, which has invested in Seat Unique and Padel Social Club.

The league's proof-of-concept event in Greenwich earlier this year saw high-profile climbers, such as reigning Olympic champion Toby Roberts, sell out within 24 hours. PCL co-founder Danaan Markey expressed excitement about the league's potential, stating, "Climbing has been crying out for an easy-to-follow format with entertainment value, held in the cities where climbers actually live."

The inaugural season will span three dates from January to March, with stops in Berlin, Paris, and London. Plans include expanding to five events in 2028, with at least one match in the US, as well as leveraging the latest funding to bolster the business. With climbing gaining popularity, becoming an Olympic sport in Tokyo 2020, and boasting a thriving amateur scene, the market is estimated at £36bn and growing annually at a rate of 15 to 20 per cent.

Brownlee emphasized the league's potential, noting, "Indoor climbing has gone from a subculture to a global phenomenon, with mass participation, Olympic status, and growing media recognition. A league built for both the climbing community and its athletes is a hugely exciting prospect."