Tennis Australia Raises $48.8 Million for Investment Fund

Tennis Australia Raises $48.8 Million for Investment Fund

Tennis Australia has successfully raised $48.8 million for AO Ventures, a fund designed to invest in high-growth start-ups. This initiative aims to identify and support approximately 20 promising companies.

The funding round attracted a distinguished group of investors, including prominent figures like John Wylie (Tanarra Capital), Robyn Denholm (Tesla Chairwoman), Mark Nelson (Caledonia), Ashok Jacob (Ellerston Capital), and the Wollemi Capital Group.

In exchange for their investment, these backers will receive options to acquire equity in the selected start-ups at current valuations over the next three years.

This move aligns with Tennis Australia's history of supporting innovative ventures, having previously invested in successful companies such as Mr Yum (food ordering) and SwingVision (tennis shot analysis).

Tennis Australia joins a growing trend of sports organizations leveraging their influence and fan base to support entrepreneurial endeavors. This initiative follows a similar move by the Australian Rugby Union, which recently attracted significant investment from prominent fund managers for a dedicated rugby-focused fund.