Hobson’s Ariel Raises $250 Million for Women’s Sports Fund (1)

Ariel Investments has raised $250 million for a new fund that will buy holdings in women’s sports, co-Chief Executive Officer Mellody Hobson said in a letter to clients.

The Chicago-based firm, which launched the vehicle last year, said the closing was “a meaningful start, not a finish line.” The fund made its first investment in the National Women’s Soccer League’s expansion team in Denver in 2025 and is now targeting several additional investments including in basketball.

Ariel launched the fund, part of Project Level, saying women’s sports was one of the most “underappreciated growth opportunities.” The market for women’s sports ...