"“It's a hot place for everyone with access trying to strike a deal,” one founder said, recalling being brought to the paddock by a venture firm two years ago."
"“You name the fund, it was someone there hosting clients,” Marell Evans, an investor, also told TechCrunch. “Lots of folks missed Milken for F1 Miami.”"
"F1 teams, once sponsored by major oil, tobacco, banks, and alcohol companies, have embraced the new railroad giants. The F1 team liveries this season - plastered with AI, cloud computing, and enterprise company logos - is a literal sign pointing to where the money is."
"The past five years reflects the shift. In that time, Oracle became the title sponsor of Red Bull Racing team, the Mercedes-AMG PETRONAS F1 team struck a multi-year partnership with Microsoft, CoreWeave became Aston Martin Aramco's official AI cloud partner, Anthropic began working with Williams Racing, Palantir and IBM partnered with Ferrari, AWS began providing data analytics to F1, and the audio app ElevenLabs and fintech Revolut have tea"
F1 weekends in Miami combine racing with multiple social events where business and pleasure overlap. Founders and investors mingle in the paddock and at parties, often using access to meet potential partners and strike deals. Startup and venture participation has grown, with venture firms hosting clients and founders attending side events rather than the race itself. Investors report that many people missed other major events because of F1-related gatherings. F1 teams have shifted sponsorships from traditional industries toward technology and enterprise brands, reflected in team liveries featuring AI, cloud, and enterprise logos. Recent partnerships include Oracle with Red Bull Racing, Microsoft with Mercedes-AMG PETRONAS, CoreWeave with Aston Martin Aramco, Anthropic with Williams, Palantir and IBM with Ferrari, and AWS providing analytics services.
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