Prime Highlights:
AO Ventures, the venture capital arm of Tennis Australia and the Australian Open, is raising US$30 million (A$48 million) to invest in tech startups in sports, health, entertainment, and media.
The fund has already surpassed its first-close target of US$20 million, with the final close expected after the 2025 Australian Open.
Key Background:
AO Ventures, the venture capital arm of Tennis Australia and the Australian Open, has launched a significant capital-raising initiative, targeting US$30 million (A$48 million) to fund technology-driven startups. This initiative focuses on companies innovating within the realms of sports, entertainment, media, and health, with the aim of identifying and nurturing high-growth businesses.
The venture is supported by an array of seasoned investors, including Mark Nelson from Caledonia, Tanarra’s John Wylie, Melbourne businessman Mark Healey, Ashok Jacob of Ellerston Capital, and the Denholm family office, along with Wollemi Capital Group. AO Ventures has already exceeded its first-close target of US$20 million and anticipates a full closing of the fund shortly after the conclusion of the 2025 Australian Open.
This bold strategy seeks to assist early-stage startups by offering both capital investment and strategic partnership opportunities. According to Craig Tiley, CEO of Tennis Australia, the fund’s dual role as investor and client leverages Tennis Australia’s powerful brand and network to provide startups with market credibility, increased visibility, and the potential for long-term success.
The primary goal of AO Ventures is to target emerging technology companies that are addressing some of the world’s most pressing challenges. The Australian Open’s global profile and the extensive backing from prominent investors position the fund to offer startups a unique platform for growth. Additionally, AO Ventures plans to extend its investment focus beyond sports, ensuring that portfolio companies have the potential to scale across various industries.
Led by general partners Todd Deacon and Machar Reid, AO Ventures plans to invest in approximately 20 startups worldwide, with investments typically ranging from US$300,000 to US$1.5 million. A notable feature of the fund is its innovative AO Startups program, which pilots’ technologies across Tennis Australia’s operations prior to making investment decisions, adding further value to its portfolio. As AO Ventures prepares to announce its first investments in the coming months, the fund’s approach promises to reshape how tech innovation intersects with the sports and entertainment sectors.
