LONDON, ENGLAND – MAY 18: Minority shareholder of Chelsea, Alexis Ohanian during The Adobe Women’s FA Cup Final match between Chelsea and Manchester United at Wembley Stadium on May 18, 2025 in London, England (Photo by Eddie Keogh – The FA/The FA via Getty Images)
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Alexis Ohanian is expanding his investment portfolio in women’s sports with a new stake in professional women’s volleyball.
League One Volleyball (LOVB) announced on Wednesday that Ohanian’s investment firm, Seven Seven Six, will lead the ownership group of a new professional team, LOVB Los Angeles Volleyball. The investment comes as volleyball has seen rapid growth across all levels of play.
Financial terms of the deal were not disclosed.
“We’re excited to make LOVB the third jewel in Seven Seven Six’s LA sports family,” Ohanian said in a statement. “Volleyball is such a natural addition for Southern California, which has already proven how warmly it embraces new pro sports teams.”
Ohanian is also an investor in two other California teams: the NWSL’s Angel City FC and TGL’s LA Golf Club.
LOVB was founded in 2020 and features both youth and professional volleyball. The league has secured media rights deals with ESPN and Comcast spinoff Versant, as well as as high-profile sponsors such as Skims.
LOVB has raised more than $160 million as of November from investors that include Gold medal skier Lindsey Vonn, former WNBA champion Candace Parker and Kevin Durant-founded Boardroom Sports Holdings.
Ohanian, a Reddit co-founder and the husband of tennis legend Serena Williams, has become one of the top investors in women’s sports in recent years.
His quickly growing sports portfolio also includes a minority stake in Chelsea FC women’s soccer as well as Athlos, the women’s track and field startup he founded in 2024. He’s also a major donor of the women’s basketball program at his alma mater, the University of Virginia. Ohanian’s wife, Williams, is also an investor in the WNBA’s Toronto Tempo, which will begin play in 2026, and 3-on-3 women’s basketball league Unrivaled.
LOVB Houston outside hitter Sara Loda (17) and LOVB Houston middle blocker Amber Igiede (3) leap for a block attempt on a spike from LOVB Austin opposite hitter Madisen Skinner (16) during the League One Volleyball match between LOVB Austin and LOVB Houston February 19,, 2025, at H-E-B Center in Cedar Park, Texas.
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Ohanian’s investment in volleyball comes as the sport has seen upticks in participation and viewership.
At the high school level, more than 479,000 girls participated in volleyball during the 2023-24 season, marking an all-time high, according to the National Federation of State High School Associations.
ESPN has reported record viewership for certain women’s volleyball games.
During LOVB’s inaugural season, the league sold out multiple matches and merchandise sales exceeded $1 million, the league said.
Ohanian told CNBC in August that he believes women’s sports is a tremendous business opportunity.
“We are just starting to see what happens when these leagues and these teams and these athletes are getting the investment of resources, of exposure, and dollars,” Ohanian said.
