Let’s skip the small talk,
What’s up squad, Noah here. I’m back. We’ve had a hell of a year so far, will reflect on what’s happened the past few months at some point. Shoutout to Tarun holding the content down for us.
So our marketplace has created a bunch of new partnerships, our content continues to grow, but one thing that’s stayed the same is the desire to nourish into our community. We want to continue to support you guys whether it’s through content or software. Doesn’t matter to me which way or function.
So reply to this email on how we can make our publication better, more interesting, and reason for you to love opening your email (I know, that’s tough).
In the meantime, Tarun’s got us on this week’s edition of Backstage.
LINEUP
1. Headlines of the week 🗞️
2. Women’s Hoops Keeps Shooting Up 🏀
3. Serena’s Investing Grand Slam 📈
4. New Squad Member 🚀
5. Company of the Week Presented by OPTYO: Trūspan 🧠
NEWS
🚨Headlines of the Week🚨
Upshot League, a new women's basketball league tipping off on May 15, has raised $40 million (see more below).
Serena Williams’ VC fund Serena Ventures has invested in 14 companies that have reached $1B+ (see more below).
Former pro basketball player Masai Ujiri becomes the new president of the Dallas Mavericks.
Apollo Sports Capital leads $225M investment in Pickleball Inc. (Major League Pickleball and the PPA Tour).
JR Smith has graduated from North Carolina A&T State University.
Jameis Winston is set to be the FOX Sports FIFA World Cup correspondent this summer.
A&A IN DEPTH
Women’s Hoops Keeps Shooting Up
Upshot League is a new women’s basketball league based in Jacksonville, set to tip off on May 15. The league has raised $40 million and is backed by over 90 partners, including women’s basketball legends in Tamika Catchings, Cheryl Miller, and Ann Meyers Drysdale.
Considering the WNBA has only 15 teams, 180 roster spots, and there are 4,000 D1 women hoopers, there is still a major gap to fill. With upstart women’s basketball leagues like Unrivaled, Project B, and now Upshot, the gap is starting to be sealed, charged by the best current and all-time women’s basketball players.
The three Hall of Famer investors have played through this gap, meaning they understand the value of the market and see the potential for growth. In the case of Unrivaled; founded by current WNBA hoopers Napheesa Collier and Breanna Stewart. Project B: giving athletes equity in the league and Hall of Famer Alana Beard serves as Chief Basketball Officer.
Not only is the field of play expanding for women hoopers, this expansion is being driven and built by the athletes that work in the middle of it all.
ATHLETE SPOTLIGHT
Serena’s Investing Grand Slam
Serena Williams launched Serena Ventures in 2014, the same year she achieved her second "Serena Slam" (holding all four major titles at once). Since then, her firm has made over 96 investments across fintech, health, and education. This week, 14 of those companies have officially reached unicorn status ($1B+).
Serena had backed companies like Coinbase, MasterClass, and Impossible Foods before they became household names. According to Forbes, Serena’s net worth is now around $350 million, while her career prize money totaled ~$95 million. Since 2019, her business ventures have increased her overall wealth by ~50%.
Though she was quite early to the party, Serena is not alone. After retiring in 2024, Alex Morgan has transitioned into venture capital through her firm Trybe Ventures, focusing on women's sports ecosystems, healthtech, wellness, and media startups.
Morgan also co-founded TOGETHXR, a women's sports media company alongside Chloe Kim, Simone Manuel, and Sue Bird. It has tripled its revenue year over year, doubled its valuation, and reached profitability with Trybe leading the most recent funding round.
In their primes, women’s sports was an underinvested and undervalued space, but they managed to stand out. Keeping consistent, they have found where they can fit into market gaps and stand out in the VC space.
Exclusive Offer:
OPTYO helps sports, fitness, and wellness brands grow their online presence by improving how they market and reach customers.
They are offering one month of their services for free (up to a $2,000 value) for Athletes and Assets™ Backstage readers.
To claim this, interested brands should visit the "Get Started" page at https://www.optyo.net/contact to schedule a Growth Strategy Intro Meeting. When prompted with "How did you hear about us?", select "Athletes & Assets."
MOST VALUABLE PLATFORM
New Squad Member
We’re thrilled that Vincent Sobal has joined the team to help run partnerships. We are going to double and triple deal flow volume for athletes.
Let’s go. Who’s next?
COMPANY OF THE WEEK
Company of the Week Presented by OPTYO: Trūspan
Trūspan uses science-backed ingredients that support the core systems of longevity, with the focus of increasing healthspan on top of lifespan. Watch Noah’s interview with founder and CEO of the brand, Dave Chambers, here:
Why should athletes care?
Performance and longevity value
Functional health + wellness CPG
Supplementing, cognitive health benefits
Creatine is the number one studied ingredient in the world, proven to support brain health on top of being a useful gym supplement. Supplementing is a major part of health and wellness for athletes, and longevity is a key factor that elite athletes consider in supplementation and in their careers.