$150 million worth Alexis Ohanian reposts Flau’jae Johnson’s podcast clip to announce his first big investment in women’s college basketball

Alexis Ohanian, Reddit co-founder, reposted an old social media post to announce a landmark investment in women’s college basketball.

Ohanian shared the news on Instagram on Tuesday, recalling his appearance on the "Best of Both Worlds" show on YouTube with LSU star Flau’jae Johnson and staying true to his commitment by donating to the University of Virginia, where Ohanian graduated in 2005 from the McIntire School of Commerce.

"Women’s college basketball is up next, I’ll tell you that right now. @flaujae asked if I’d considered investing in the WNBA, but my sights are set on NCAA Women’s Basketball. It’s not just talk – look no further than my recent announcement that my first big investment into the space will be with a multi-year commitment to @uvawomenshoops," he captioned the post.

In the episode, released on Aug. 9, LSU’s star asked Ohanian about his interest in owning a WNBA team, where Ohanian explained his preference for NCAA women’s basketball.

"I had a conversation with Adam Silver years ago," Ohanian said. [13:20] "College basketball was so clearly the battleground for women, and there’s a tweet from me asking the NCAA to sell me the rights to women’s basketball because I was way more interested in figuring out how to make that viable."

"Ironically, the NCAA has been so under-investing in the college women – remember the weight room fiasco, not even being able to say ‘March Madness.’"

Ohanian elaborated on his observations about women’s basketball and its recent growth.

"I just imagine you’re taking a thing that today is driving all of the attention – and that attention means revenue – and four years ago the stars weren’t even getting a weight room to train in and couldn’t even get the branding because they thought it was too precious and belonged to the men," Ohanian said.

"In this country, capitalism sort of trumps everything. And so all the people in my replies who would say like, ‘Oh, no one cares about women’s sports,’ you cannot make that argument now because the dollars don’t lie. And NIL made it so crystal clear that you all were so valuable and they had just been dropping the ball for decades."

Ohanian donates to Virginia Cavaliers

As the founder of the Seven Seven Six venture capital firm and an alumnus of UVA, Ohanian took the opportunity to give back to his alma mater.

On Dec. 12, leveraging the success of his businesses this year, Ohanian made a multi-year transformational donation to the Virginia women’s basketball program, marking the largest contribution in the program’s history.

Although the gift's exact dollar amount was not disclosed, reports indicate that the Virginia Cavaliers will receive $776,000 annually for the next four years.

With his recent donation, Ohanian aims to "elevate Virginia Women’s Basketball recruiting and retention of championship-level talent" and to "allow UVA to be a premier destination for female student-athletes while addressing the financial and competitive demands of this new era of college athletics."

Ohanian continues efforts to elevate women’s sports

Beyond being married to tennis icon Serena Williams, Ohanian has established himself as a strong advocate for supporting and investing in women’s athletics.

In July 2020, Ohanian became one of the founding investors in Angel City FC, which began competing in the NWSL in 2022. Since its debut, the club has become the league’s most valued franchise, with a valuation of $250 million, according to the latest Sportico report.

He also launched Athlos, a women-only track and field initiative. The professional track and field series debuted at Icahn Stadium in New York City on Sept. 26, offering prizes of up to $60,000 for top competitors in events like the 100 m, 100 m hurdles, 200 m, 400 m, 800 m and 1500 m.

With his recent commitment to UVA, Ohanian continues to make significant progress in advancing women’s sports. He predicts that with the current growth trajectory, a women’s sports team could reach a valuation of $1 billion by 2030.