African-American professional tennis player and icon, Venus Williams has joined private equity firm Topspin Consumer Partners as an operating partner to focus on investing in health and wellness businesses.
Williams, who has her own apparel line, EleVen, and is a hit on the speaking circuit, is excited to be entering a sector that historically has had little penetration from African Americans.
Topspin Managing Partner Leigh Randall said Williams is a “terrific addition to the team” and will help the firm in areas such as beauty and personal care.
Topspin, which was founded in 2000 initially as a venture capital firm and later decided to zero in on consumer-focused investments, seeks to make control investments on the lower end of the middle market.
In February, Topspin acquired Firefly Buys LLC, a full-service e-commerce accelerator, through its portfolio company reCommerce.
The target is one of the largest North American sellers on Amazon, according to the firm’s website.
Williams, alongside other athletes such as her sister Serena Williams, has entered the world of investing.
Despite the prese t economic climate and tightening credit markets, Williams believes there are still opportunities to find real businesses that make sense.
She plans to take a “slow and steady” approach to find her first deal under the Topspin moniker.
While questions have swirled about whether Williams will retire from tennis after withdrawing from the Australian Open in January due to injuries, she now has something to keep her busy while she’s sidelined.
As an executive producer on the 2021 film “King Richard,” which centered on her father, and with her responsibilities at Topspin, Williams will continue to be a force to be reckoned with both on and off the court.
