Alexis Ohanian, known for co-founding Reddit and his venture capital success, has acquired a 10% stake in Chelsea Women, signaling his continued commitment to women’s sports. He aims to boost the team’s profile internationally, particularly in the U.S. Ohanian’s investment portfolio includes Initialized Capital and his current firm, 776, managing nearly $1 billion in assets.
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Credit: Instagram/@alexisohanian

Alexis Ohanian, the tech entrepreneur, investor, and husband of tennis legend Serena Williams, has taken another bold step in supporting women’s sports. Ohanian recently acquired a 10% stake in Chelsea Women, the leading team in England’s Women’s Super League, and has joined the club’s board to help steer its future. He aims to elevate the team’s international profile, particularly in the United States, stating his belief that “Chelsea Women deserve more fans and support.”Ohanian, 42, is no stranger to women’s football. He previously served as the largest shareholder of Angel City FC, an American club that was sold in 2024 for £192.3 million — a record-breaking sum for a women’s sports team at the time.

“As Founding Control Owner of Angel City FC, I’ve seen the opportunity to create and grow a worldwide brand within women’s football, and I’m confident Chelsea FC Women is the next global women’s sports brand,” Ohanian said.According to Celebrity Net Worth, Ohanian has an estimated net worth of $150 million. His fortune stems from a combination of early tech investments, venture capital success, and his role in creating one of the internet’s most influential platforms.

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Co-founding Reddit

Ohanian co-founded Reddit in 2005 with Steve Huffman, his college roommate from the University of Virginia. The pair sold the company just a year later to Condé Nast Publications for an estimated $10 million, according to a 2020 series of posts by Ohanian on the social platform X (formerly Twitter).

Ohanian left Reddit in 2009 but returned in 2014 as executive chairman. In June 2020, amid nationwide calls for racial justice, he stepped down and publicly urged Reddit to replace him with a Black board member. He was succeeded by Michael Seibel, then-CEO of Y Combinator.

In a February 2024 post on X, Ohanian confirmed that he still holds shares in Reddit. The company went public in March 2024 with a valuation of $6.4 billion.

Venture Capital and Investments

Ohanian has built a substantial portion of his wealth through venture capital. In 2012, he co-founded Initialized Capital, through which he became an early investor in more than 40 unicorn startups, including Instacart, Coinbase Global , HubSpot, Opendoor Technologies, Patreon, and Impossible Foods. He departed the firm in July 2020.Shortly after, in September 2020, Ohanian launched a new VC firm called 776. The firm reportedly manages nearly $1 billion in assets and has invested in a diverse portfolio that includes Kickstarter, LA Golf Club, and even YouTube star MrBeast’s ventures, such as Feastables and MrBeast Industries.