Novak Djokovic is now advisor to a private equity firm
What's the story
Tennis legend Novak Djokovic has been appointed as a global strategic advisor by private equity firm General Atlantic. The announcement comes just days before Djokovic's Wimbledon campaign, where he hopes to clinch his 25th Grand Slam title. In his new role, the Serbian star will work closely with General Atlantic's leadership, portfolio companies and investors.
Investments
Djokovic's previous investments in wellness companies
The partnership between Djokovic and General Atlantic is not surprising, given the tennis star's previous investments in wellness companies. He invested in Waterdrop in 2023, co-founded supplement company SILA in 2024, and launched clean snack food company Cob Foods a year later. He also backed wearables firm Incrediwear. According to Bloomberg, General Atlantic plans to use Djokovic's network for greater exposure to health and wellness industry.
Expansion plans
General Atlantic's push into sports investing
Along with health and wellness, General Atlantic is also interested in expanding into sports investing. Over the last two years, the firm has invested in a football club, a sports stadium, and a sports media agency. The growing presence of private equity in tennis makes General Atlantic the latest player to join this trend.
Future prospects
CEO's insights on Djokovic's impact
General Atlantic CEO Bill Ford told Bloomberg that Djokovic had "strong views about how professional tennis can be reshaped" and that "there'll be opportunities there." This statement hints at the potential changes and innovations Djokovic could bring to the sport through his new role. The partnership also highlights a growing trend of athletes taking on advisory roles in private equity firms.