Utah Jazz Owner Launches $1 Billion VC Fund Focused on Sports Tech

Utah Jazz owner Ryan Smith, in collaboration with Accel partner Ryan Sweeney, has launched a $1 billion venture capital fund called Halo Experience (dba HX One). The fund, based in Utah, is focused on investing in growth-stage tech companies within the 'experience economy,' with a particular emphasis on sports-related innovations. This initiative, announced on April 8, 2025, builds on a long-standing business relationship dating back to 2012 when Sweeney led an early investment in Qualtrics, the tech firm founded by Smith.

The new fund represents a strategic move to merge Smith’s tech background with his sports interests, reflecting a broader trend of convergence between technology, entertainment, and sports. HX One is currently in the process of building its investment team, signaling strong investor confidence in the potential for a major resurgence in the tech sector, particularly as it intersects with how people experience sports and entertainment.