CEO Mark Patricof is transforming elite athletes into major investors
Hello and welcome to Modern CEO ! I’m Stephanie Mehta, CEO and chief content officer of Mansueto Ventures. Each week this newsletter explores inclusive approaches to leadership drawn from conversations with executives and entrepreneurs, and from the pages of Inc. and Fast Company . If you received this newsletter from a friend, you can sign up to get it yourself every Monday morning. These days,…
CEO Mark Patricof has been revolutionizing the world of elite athletes by turning them into major investors. Modern CEO explores the inclusive leadership approaches showcased in this story featuring conversations with executives and entrepreneurs. Embracing this trend, Serena Williams and Kevin Durant have begun investing in startups through their respective ventures. The fitness band maker Whoop's recent Series G funding attracted the likes of Cristiano Ronaldo, LeBron James, and Rory McIlroy.
However, most professional and college athletes struggle to find the necessary resources, expertise, and connections to effectively participate in private equity transactions. This is where Patricof Co, founded by Mark Patricof in 2018, comes in. Patricof Co seeks to facilitate athletes' involvement in private equity transactions through advisory services, networking opportunities, and educational programs.
By investing in companies that align with their interests and values, athletes can effectively promote products to their fans and followers. For instance, Azzi Fudd of the WNBA’s Dallas Wings, a Patricof client, has helped Spindrift, a sparkling soda she invests in, achieve significant success. Since its inception, Patricof Co has invested over $200 million in 29 companies, with successful exits including Cholula and Orgain.
The firm has also partnered with LVMH-backed private equity firm L Catterton to create CHAMP, a $500 million fund that will invest alongside Patricof Co and L Catterton in consumer growth companies.
Written by urgent.news from Fast Company's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
