– Project Level has completed its first close, securing $250 million in committed capital.
– The fund was launched one year ago to pursue investments in women’s sports, a segment experiencing rapid growth in viewership, attendance, participation, and sponsorship, while continuing to receive a disproportionately small share of global sports capital.
– A robust investment pipeline enabled the fund to warehouse two investments ahead of the first close, establishing the foundation of a diversified portfolio spanning teams, leagues, and women’s sports–adjacent businesses.
– Since the acquisition of Denver Summit in January, NWSL expansion fees increased by 50% over a ten-month period, rising from $110 million to $165 million.
– Within weeks of its official launch, Denver Summit sold 8,500 season tickets, significantly exceeding initial projections, with expectations that the team will rank among the highest-revenue-generating franchises in the league.
– Since Project Level’s investment in LOVB last May, participation in its youth clubs has expanded by 7,000 additional players, bringing total junior athlete participation to 25,000 by year-end.
– Viewership for the second season of the LOVB professional league is up 85% to date.
– “These are not anecdotes, they are signals,” said Mellody Hobson, Co-CEO and President. “The fundamentals are strong, the math is persuasive, and women’s sports are no longer an emerging story.”
– The $250 million first close represents an initial milestone as Project Level continues to scale its platform and pursue long-term value creation across the women’s sports sector.
– The fund was launched one year ago to pursue investments in women’s sports, a segment experiencing rapid growth in viewership, attendance, participation, and sponsorship, while continuing to receive a disproportionately small share of global sports capital.
– A robust investment pipeline enabled the fund to warehouse two investments ahead of the first close, establishing the foundation of a diversified portfolio spanning teams, leagues, and women’s sports–adjacent businesses.
– To date, investments include Denver Summit FC, the sixteenth expansion team in the National Women’s Soccer League (NWSL), and League One Volleyball (LOVB), reflecting increased scale and momentum across the women’s sports ecosystem.
– Since the acquisition of Denver Summit in January, NWSL expansion fees increased by 50% over a ten-month period, rising from $110 million to $165 million.
– Within weeks of its official launch, Denver Summit sold 8,500 season tickets, significantly exceeding initial projections, with expectations that the team will rank among the highest-revenue-generating franchises in the league.
– Since Project Level’s investment in LOVB last May, participation in its youth clubs has expanded by 7,000 additional players, bringing total junior athlete participation to 25,000 by year-end.
– Viewership for the second season of the LOVB professional league is up 85% to date.
– “These are not anecdotes, they are signals,” said Mellody Hobson, Co-CEO and President. “The fundamentals are strong, the math is persuasive, and women’s sports are no longer an emerging story.”
– The $250 million first close represents an initial milestone as Project Level continues to scale its platform and pursue long-term value creation across the women’s sports sector.