Andre Agassi became one of the most successful tennis players during his career. After retirement, he has evolved into a proficient investor, along with his wife and WTA legend Steffi Graf.
The couple incorporated Agassi Graf Holdings, in addition to the Andre Agassi Ventures, to carry out all business transactions. Through these firms, the 1996 Olympics gold medallist has invested in many top companies.
One of his earliest investments was also among his most famous and perhaps, the most successful. Agassi, with Graf, put a chunk of money into the online ticket reselling platform Viagogo in 2007 (TechCrunch). The UK-based company raised $15 million in that round of funding, with the legendary tennis couple also joining as advisors and board members.
Viagogo has since developed into a global ticket-booking giant and merged with StubHub in 2021. As per Bloomberg, the company’s valuation is projected to be $13 billion after an upcoming IPO.
Andre Agassi ventured into sports betting, joining SimpleBet as an investor in March 2020 (FINsmes). Founded in 2018, the company uses machine learning and technology to automate every moment into a betting opportunity. Business Insider reported that SimpleBet was valued at $235 million in late 2023.
In early 2021, Agassi became an investor in Evolv Technologies through a PIPE deal worth $300 million, along with Graf (IPO Edge). The company, which uses AI-based screening to improve security facilities in public spaces, went public soon at a valuation of $1.17 billion. Backing his stance on choosing educational philanthropic projects, Agassi financially backed Square Panda in 2016 (TechCrunch). The ed-tech platform helps children improve reading and access to education, also catering to special-needs kids.
Agassi is also big on pickleball, featuring in Pickleball Slams. He took his relationship with it to the next level recently after investing in DUPR (Dynamic Universal Pickleball Rating), a global ranking system for the fast-growing sport. Agassi will also serve as a board member in the 2021-founded company (PR Newswire).
When Andre Agassi lifted the curtains on his investment mantra
Agassi has been an active investor ever since his playing days. Apart from the five companies listed above, he has a long list of other firms in his portfolio. He has also put a lot of money into real estate and property investments.
A few years ago, he was in India to promote Square Panda’s new operations in the country. He spoke to the Economic Times, talking about many things including his investing career.
Andre Agassi said his portfolio is diverse with a few high-risk names, whom he personally checks in on. He claimed he remains a passive supporter otherwise but likes to be more hands-on with education and sports-based start-ups. He said he invests not only his money but also time in such companies.
“I have a portfolio that is well diversified… I have my more high-risk investments that I personally engage with. Outside of that, I am happy to listen to any investment as a passive investor. But there are one or two areas that I really connect with – like maybe education or sports – where I take much more aggressive position – investing my time as well as money.”
Agassi revealed his principle of trusting the person and not the product. He said while a great idea can go bust, an ordinary idea could be elevated because of the extraordinary people behind it.
“I bet on people, not on things… A good idea can get screwed up and an average idea can really become something special because of people.”
