Venus Williams joins private equity firm Topspin Consumer Partners

3:25 pm Wednesday, March 01st, 2023

By Abigail Summerville

NEW YORK (Reuters) – Venus Williams has joined private equity firm Topspin Consumer Partners as an operating partner, the latest endeavor in the world of business by a top tennis champion who has emerged as a prolific entrepreneur.

Williams will work with companies owned by Topspin on their marketing strategies and investment opportunities, the firm said in a statement on Wednesday. Williams started working for Topspin last November, the firm added.

Williams accepted the role because she wanted to take a more formal approach to investing and help grow businesses, Topspin managing partner and co-founder Leigh Randall said in an interview.  

“She’s been looking and participating in conversations on every new deal we consider here,” Randall said.

Williams, 42, is at a crossroads in her tennis career. After winning seven Grand Slam titles, five Wimbledon championships and four Olympic gold medals, she pulled out of the Australian Open in January because of injuries. It is not clear when or if she will compete again.

Her sister, Serena, 41, who is also a tennis champion, has withdrawn from the game but has said it’s possible she could return.

Among the business ventures launched by Venus Williams are Happy Viking, a plant-based superfood nutrition company, and EleVen, a lifestyle and activewear brand. She is also chief brand officer of health brand Asutra.

Founded in 2000, Topspin is a U.S. private equity firm that invests in consumer businesses with revenue below $100 million. Its most recent investment was Firefly Buys, an e-commerce company bought through its portfolio company reCommerce in February.

In 2021, the Mamaroneck, New York-based firm acquired Mission, a sports apparel and accessories company co-founded by Serena Williams.

Venus Williams joins in the footsteps of other sports stars who have entered the world of private equity. Two-time Super Bowl champion Eli Manning joined Brand Velocity Partners last year as a partner.

(Reporting by Abigail Summerville in New York; Editing by Kirsten Donovan)