Women’s Basketball League Unrivaled Raises More Than $100 Million From Carmelo Anthony, Ashton Kutcher, Alex Morgan, University of California Fund and More
Unrivaled, the women’s three-on-three basketball league, announced that its Series C fundraise has surpassed an initial $100 million target and is now oversubscribed — valuing the league at $650 million. The funding round was led by Ten Pillars Sports Fund, backed by UC Investmen
The significant investment in Unrivaled, a women's three-on-three basketball league, speaks to the growing interest in women's sports and the potential for financial growth in the sector. This influx of capital, led by high-profile investors like Carmelo Anthony, Ashton Kutcher, and Alex Morgan, indicates a shift in how women's sports are perceived and valued. The involvement of these celebrities, along with the University of California Fund, lends credibility and visibility to the league.
The $650 million valuation of Unrivaled is particularly noteworthy, suggesting that women's sports can be a lucrative business. This development could have implications for the broader sports industry, potentially paving the way for more women's leagues and teams to secure substantial funding. As the sports and entertainment industries continue to intersect, it's likely that we'll see more crossover investments like this in the future.
For music fans, the connection to the sports world might seem tangential, but the influence of athletes and celebrities on music culture is well-documented. As women's sports continue to gain traction, we may see more collaborations between athletes, musicians, and other creatives. Keep an eye on how Unrivaled's success might inspire similar ventures in other sports or entertainment sectors, and watch for potential partnerships between women's sports leagues and music artists or festivals.
Originally reported by variety.com. MusicNewsletter adds analysis for culture, style & media readers.