Ariel Investments is putting its dollars toward women’s sports.
Ariel Investments Co-CEO and President Mellody Hobson announced in a Jan. 30 press release the launch of Project Level, a venture the firm hopes will level the playing field for investment, attention, and profits in women’s sports — a category that saw $1.28 billion in global revenue in 2024. Launched with the help of Jason Wright, managing partner and head of investments, and Emma Rodriguez-Ayala, chief administrative officer and general counsel, Project Level anticipates achieving strong financial returns on women’s sports in the long term, according to the press release.
“Project Level seeks to harness the exploding talent, fandom, viewership, and media interest in women’s sports by working to accelerate growth through diversified investments and significant ownership stakes,” Hobson, Project Level’s chief fundraiser and head cheerleader, explained in the press release. “Our highly curated portfolio will range from professional and emerging sports teams and leagues, to junior and college sports opportunities, along with related businesses that contribute to and directly benefit from the global expansion of women’s sports.”
$250M Fund
Shoppe Black reports Project Level has completed a $250 million first close, which will support capital across teams, leagues, and sports-adjacent platforms. Project Level’s launch coincides with its announcement of a committed stake in the National Women’s Soccer League’s newest expansion team, Denver Summit FC. Project Level serves as a lead investor in the team, per the press release.
“We are excited to have been invited to invest alongside an impressive ownership group with deep local ties to a community well-known for its sports enthusiasts,” Hobson expressed in a press release.
Additionally, Project Level has also invested in League One Volleyball as part of its initial commitment.
Project Level is supported by Asrat Alemu, who joins the venture as a vice president, as well as an advisory and corporate board that includes seven-time Formula One Champion Lewis Hamilton (advisory board); singer and actress Queen Latifah (advisory board); former Dallas Mavericks CEO Cynt Marshall (director); luxury fashion designer Stella McCartney (advisory board); former New York Knicks President and former Madison Square Garden Chief Operating Officer Steve Mills (Director); and former Ernst & Young Global Vice Chair of Public Policy Beth Brooke, CPA (Director), according to the press release.
