LONDON, ENGLAND – MAY 18: Chelsea minority shareholder 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 its women’s sports investment portfolio with a new stake in professional women’s volleyball.
League One Volleyball (LOVB) announced Wednesday that Ohanian’s investment company, Seven Seven Six, will lead the ownership group for a new professional team, LOVB Los Angeles Volleyball. This investment comes as volleyball has seen rapid growth at all levels of play.
Financial terms of the deal were not disclosed.
“We are thrilled to make LOVB the third jewel in the Seven Seven Six sports family in Los Angeles,” Ohanian said in a statement. “Volleyball is such a natural fit for Southern California, which has already proven how warmly it welcomes new professional 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 offers both youth and professional volleyball. The league has media rights deals with Comcast spinoff ESPN and Versant, as well as high-profile sponsors such as Skims.
LOVB raised more than $160 million in November from investors including gold medal skier Lindsey Vonn, former WNBA champion Candace Parker and Boardroom Sports Holdings, founded by Kevin Durant.
Ohanian, a Reddit co-founder and husband of tennis legend Serena Williams, has become a leading investor in women’s sports in recent years.
His rapidly growing sports portfolio also includes a minority stake in Chelsea FC women’s soccer as well as Athlos, the women’s athletics startup he founded in 2024. He is also a major donor to 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 the Unrivaled 3-on-3 women’s basketball league.
LOVB Houston outside hitter Sara Loda (17) and LOVB Houston middle blocker Amber Igiede (3) jump for a block attempt on a LOVB Austin spike in front of hitter Madisen Skinner (16) during the League 1 volleyball match between LOVB Austin and LOVB Houston on February 19, 2025, at the HEB Center in Cedar Park, TX.
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Ohanian’s investment in volleyball comes as the sport has seen an increase in participation and viewership.
At the high school level, more than 479,000 girls participated in volleyball during the 2023-24 season, which is an all-time record, according to the National Federation of State High School Associations.
ESPN reported record viewership for some women’s volleyball matches.
During the LOVB’s inaugural season, the league sold out several games and merchandise sales exceeded $1 million, the league said.
Ohanian told CNBC in August that he believes women’s sports present a tremendous business opportunity.
“We’re just starting to see what happens when these leagues, these teams and these athletes receive investments in resources, visibility and dollars,” Ohanian said.
