As women’s sports continue to gain prominence — exemplified by rising engagement with the WNBA — women's professional volleyball is aiming to become the next major league.
League One Volleyball (LOVB), which owns LOVB Pro, an American women's professional indoor volleyball league, has raised an additional $100 million in funding from three investment firms, increasing total commitments to $160 million, according to a Nov. 21 news release.
The latest round of funding commitments came from women-founded private equity firm Atwater Capital, alongside existing investors Ares Management and venture capital and early growth equity firm Left Lane Capital.
The new investment will “continue to fuel LOVB’s mission to transform volleyball from the grassroots to the professional level, while supporting the much-anticipated launch of LOVB Pro’s inaugural season set to begin in January 2025,” the release noted.
LOVB Pro will hold its first matches on Jan. 8, 2025. The matches will be aired across ESPN's networks and digital platforms.
"What we’ve been able to achieve with LOVB is the opportunity to champion athletes throughout their entire volleyball journey,” said Katlyn Gao, co-founder and CEO of LOVB, in the release. "By connecting our club athletes to our pros, we are supporting the next generation of players and creating a bond unrivaled by other leagues."
Founded in 2020, LOVB’s amateur youth programs now comprise 58 clubs with more than 16,000 athletes across 26 states and 66 locations.
"By leveraging our expertise in media and entertainment, we’re excited to amplify LOVB’s impact, delivering compelling stories and experiences that engage volleyball fans in new, exciting ways and inspire the next generation of exceptional athletes," said Vania Schlogel, CEO and founder of Atwater Capital, in the release.
A spokesperson for Ares added: "By championing the space for the entire community of volleyball athletes, from youth to professional, we see significant growth opportunities for LOVB as well as the further development of the women's and amateur sports markets."
Left Lane could not be reached for comment.
Ares has $464 billion in assets under management, while Left Lane has $2.2 billion and Atwater, $459.1 million.
Other investors in LOVB include venture capital firm Bolt Ventures; NBA star Kevin Durant; comedians Chelsea Handler and Amy Schumer; Linda Henry, a partner in Fenway Sports Group, which owns the Boston Red Sox and Liverpool Football Club; WNBA star Candace Parker; and Olympic skiing gold medalist Lindsey Vonn.
