PHOENIX, AZ  (January 7, 2026)  — Together with anchor Limited Partner LG Electronics, NovaWave unveiled a collaboration with the Arizona Commerce Authority (ACA) to launch WaveX, an AI venture studio designed to accelerate innovation in healthcare, energy, sports, and media across Arizona. This follows the recent announcement at CES 2026 on AZ Venture Capital Inc. and Sunny Day Sports joining NovaWave Capital as incoming investors in the NovaWave Fund generation.

 “Arizona is proud to welcome NovaWave Capital’s venture studio to our state, a powerful addition to our thriving innovation ecosystem,” said Arizona Governor Katie Hobbs. “This prominent initiative reflects Arizona’s growing global importance in advanced technologies and our commitment to fostering next-gen innovations across artificial intelligence, energy, advanced manufacturing, and more.”

"With our collaborative business environment, world-class talent, and advanced technology ecosystem, Arizona offers unparalleled opportunities for startups and early-stage companies to scale and succeed," said Sandra Watson, President and CEO of the Arizona Commerce Authority. “We are excited to partner with NovaWave Capital on the creation of a new AI venture studio and venture fund to support Arizona based companies.”

“Sunny Day Sports is pleased to partner with NovaWave Capital to bring WaveX to Arizona,” said Vicki Mayo, CEO of Sunny Day Sports. “This partnership will enhance the innovation within Sunny Day Sport’s new Palo District in Mesa, AZ, bringing with it new advancements in Women-focused healthcare and sports medicine through new sports-tech and fem-tech products and platforms. Arizona is the right place to launch this new initiative, and Sunny Day Sports is the right local partner.”

Sunny Day Sports is a next generation sports platform dedicated to shaping the future of the sports industry through strategic investment, innovation, community focused partnerships. The organization is actively advancing the Palo District in Arizona, a newly formed sports and innovation district designed to support integrated sports, technology, and entertainment ecosystems. With a long-term approach to growth, Sunny Day Sports is committed to position in Arizona as a leading market for professional soccer, and the broader evolution of the sports economy, creating lasting value for athletes, fans, and communities.

“This collaboration pairs Silicon Valley venture-building with Arizona’s fast-growing innovation ecosystem, said James Goulka, President & CEO, AZ Venture Capital Inc. “Through the NovaWave Fund and the WaveX venture studio, AZ Venture Capital Inc. will help founders validate faster, scale smarter, and deliver measurable outcomes—particularly in health tech and energy, where AI can drive real industrial and community impact.”

NovaWave Capital, created to support businesses under LG Electronics’ North America Innovation Center LG NOVA, is focused on helping to scale high growth AI companies in the energy, health and business sectors with the goal of delivering measurable, economic and industrial impact, according to NovaWave Capital’s Founding Managing Partner, “Tonton” Ali Diallo, who also founded Aurion Capital. 

“Our collaboration with AZ Venture Capital Inc., Sunny Day Sports and the Arizona Commerce Authority is a testament to the vision shared by our investors and regional partners across the public and private spectrum to build and scale AI-first companies in collaboration with LG NOVA,” said Diallo. “By bridging Silicon Valley innovation with the fast-growing ecosystems of regional and international markets, we are seeking to build the next generation of AI, energy and health companies that will accelerate America’s innovation economy.”

“LG NOVA is committed to building a strong foundation for breakthrough innovation in the United States,” said Dr. Sokwoo Rhee, Executive Vice President of Innovation at LG Electronics and Head of LG NOVA. “Our collective work with NovaWave Capital allows us to identify, support, and scale impactful AI-first ventures that benefit communities and industries nationwide.”

This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only and on the understanding that the recipient has sufficient knowledge and experience to be able to understand and make their own evaluation of the proposals and services described herein, any risks associated therewith and any related legal, tax, accounting or other material considerations. To the extent that the reader has any questions regarding the applicability of any specific issue discussed above to their specific portfolio or situation, prospective investors are encouraged to consult with the professional advisor of their choosing.

Certain information contained herein constitutes “forward-looking statements,” which can be identified by the use of forward-looking terminology such as “may,” “will,” “should,” “expect,” “anticipate,” “project,” “estimate,” “intend,” “continue,” or “believe,” or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties, actual events, results or actual performance may differ materially from those reflected or contemplated in such forward-looking statements. Nothing contained herein may be relied upon as a guarantee, promise, assurance or a representation as to the future.

Media Contact

Alyssa Tufts, Arizona Commerce Authority, [email protected]