Venus Williams, the American tennis legend and seven-time Grand Slam winner, has landed her first deal with private equity firm Topspin Consumer Partners. Williams will work as an operating partner with Topspin, focusing on investing in health and wellness businesses. The move comes as the industry is facing challenges such as a devalued economy and insufficient credit markets, but Williams remains optimistic about the availability of the right assets with the right research. The tennis icon will work on marketing strategies and investment opportunities with companies owned by Topspin. In a statement, Leigh Randall, co-founder, and Managing Partner at the firm described Williams as “a terrific addition to the team.” Williams’ new role does not mark the end of her tennis career, and she has indicated that she is still focused on ensuring her health before deciding on her future in the game.
Williams, who won a gold medal at the Olympics, will bring her entrepreneurial and personal investing experience to her new role with Topspin. She is expected to help the firm on the health and wellness front, as well as in areas such as beauty and personal care, where the firm invests heavily.
Topspin, which is based in Westchester, was founded in 2000 as a venture capital firm and has since focused on consumer-focused investments. The firm's target is to make control investments on the lower end of the middle market.
Williams' appointment follows Topspin's investment in Mission, a company founded by athletes, including Williams' sister Serena. The former tennis star withdrew from the Australian Open in January due to injuries, leading to questions about her retirement from the game. However, Williams has indicated that she is focused on ensuring her health at the moment.
"I love the tennis connection and I love tennis, so that's dope," Williams said in an interview. "At the moment, I'm making sure I'm healthy, and then I will go from there."
Williams' appointment is expected to bring more diversity to the private equity industry, where African Americans have historically been underrepresented.
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