Private investment firm Bluestone Equity Partners has agreed to a three-year sponsorship deal with USA Archery, beginning immediately and extending through the 2028 Los Angeles Olympics. The agreement, announced today, makes Bluestone the official sleeve sponsor for USA Archery, with the firm’s branding appearing on the sleeves of all official team jerseys.
This marks Bluestone’s first official sports sponsorship, according to the firm. The deal comes after a period of involvement with the national governing body by Bluestone founder and managing partner, Bobby Sharma, who served as a USA Archery director from 2021 to 2024.
The sponsorship arrives following a performance at the Paris 2024 Olympic Games where the U.S. Archery team secured two medals, both won by veteran archer Brady Ellison. According to Team USA’s official website, Ellison has now competed in five Olympic Games.
Bluestone closed its inaugural $300 million growth equity fund in early 2023, focusing on investments within the global sports, media and entertainment industries. Sharma’s prior experience includes nine years at the NBA, where he served as vice president and general counsel of the NBA Development League from 2002 to 2011. He later held the position of global head of basketball and strategic initiatives at IMG from 2011 to 2015, and was chair of Blue Devil Holdings until earlier this year.
Sharma also has experience as a founding member of NextGen Venture Partners and Electronic Sports Group, and served as chief executive of Soccerex, a soccer business events management firm, between 2019 and 2021.
USA Archery is fielding a full women’s team and one male athlete for the Paris 2024 Games, competing in individual, women’s team, and mixed team events. The U.S. Mixed team is currently ranked #2 in the world, and the women’s team is ranked #5, according to the USOPC.
