Venture capital fund AO Ventures has increased its investment in the fast-growing sport of padel by pouring more funds into a company that provides “financing solutions”.
The investment arm of Tennis Australia and the Australian Open lifted its unspecified stake in Mindspring Padel, which enables padel clubs and venue operators to build courts without significant upfront capital.
AO Ventures General Partner Todd Deacon said the follow-on investment reflected the fund’s conviction in Mindspring’s role in helping unlock the long-term potential of padel, which combines tennis and squash.
“Padel is experiencing extraordinary global growth, but one of the biggest constraints on the sport’s expansion is access to flexible capital to build quality infrastructure,” Deacon said in a media release.
“Mindspring has developed a model that removes a key barrier for clubs and operators by enabling them to build courts faster and with far greater flexibility.”
AO Ventures looked for high-growth companies needing capital and business to unlock their next phase of growth and believed Mindspring had the potential to play an important role in scaling padel globally and in Australia.
“Having the continued support of AO Ventures — with their deep expertise in racquet sports and global perspective on participation growth — is incredibly valuable as we continue to expand into new markets,” Mindspring Padel founder Anton Brams said.
AO Ventures first invested in the company in early 2025 but did not disclose the size of the initial or subsequent stakes.
It has also backed:
- Bolt6: artificial intelligence (AI)-powered officiating, broadcast and data services used in tennis and other sports
- Raven Controls: real-time venue operations and incident management software, and
- Padel Haus: a company supporting growth in padel sport infrastructure and premium clubs.
