LOS ANGELES - League One Volleyball (LOVB), a prominent organization in the U.S. volleyball scene, has secured $100 million in new funding to support its junior clubs and upcoming professional league. Atwater Capital leads this investment round, with participation from Ares Management (NYSE:ARES) and Left Lane Capital, both based in New York.
The fresh capital adds to the $60 million previously raised by LOVB, which has attracted investments from high-profile figures such as Olympic skier Lindsey Vonn and basketball stars Candace Parker and Kevin Durant, as well as entertainers Amy Schumer and Chelsea Handler.
LOVB, which was founded in 2020, currently oversees 58 junior clubs with over 16,000 athletes in 26 states. The organization has a significant footprint in the sport, with approximately 600 players from its clubs currently competing at the college level.
The investment announcement comes as LOVB prepares to launch its professional league, LOVB Pro, on January 8. The new league will feature teams in six cities: Atlanta, Houston, Salt Lake City, Austin, Madison, and Omaha. Notably, the league will include 17 Olympians, 10 of whom are silver medalists from Team USA in 2024.
Katlyn Gao, co-founder and CEO of LOVB, expressed gratitude for the support from the investment groups, stating the organization's commitment to establishing volleyball as a major league sport.
This investment signifies a growing interest in volleyball as a professional sport in the United States.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.