Alexis Ohanian's 776 Foundation Invests in The Sports Bra, Portland's First Women's Sports Bar

The Sports Bra, Portland's first women's sports bar, receives major investment from Alexis Ohanian's 776 Foundation to franchise and expand, with 100% of returns going to women's sports programs.

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Alexis Ohanian's 776 Foundation Invests in The Sports Bra, Portland's First Women's Sports Bar

Alexis Ohanian's 776 Foundation Invests in The Sports Bra, Portland's First Women's Sports Bar

The Sports Bra, the first women's sports bar in Portland, Oregon, has received a major investment from Alexis Ohanian's 776 Foundation to franchise and expand the business. The investment will allow The Sports Bra to open in other cities, with 100% of the returns going to women's sports programs.

Founded by Jenny Nguyen, The Sports Bra aims to create a space that celebrates and supports women's sports. The bar, which opened in 2022, has had a significant impact on the community. "I was motivated to create the bar to provide a space for young girls to see a future for themselves in sports," Nguyen said.

The investment from Ohanian's 776 Foundation, which focuses on supporting underrepresented founders, will help sustain the business locally and open new locations across the country or even internationally. The Sports Bra was an national sensation even before it opened, raising double its Kickstarter goal within a month. In its first eight months, the bar generated $1 million in revenue.

Why this matters: The investment in The Sports Bra comes at a time of growing interest in women's sports, as evidenced by record viewership for the recent NCAA women's basketball national championship game. The expansion of The Sports Bra across the country will not only provide more spaces for fans to watch and support women's sports but also contribute to the growth and empowerment of women's athletics through the reinvestment of returns into girls' and women's sports programs.

The details of the 776 Foundation's investment amount are unclear, but the team is currently accepting inquiries for the first batch of new franchise locations. The Sports Bra's success and the support from Ohanian's foundation demonstrate the increasing recognition of the importance and potential of women's sports. As Nguyen stated, "The investment will help continue the bar's mission of investing in women's sports programs, with 100% of the returns from the investment going towards that goal."

Key Takeaways

  • The Sports Bra, a women's sports bar in Portland, received major investment from Alexis Ohanian's 776 Foundation.
  • The investment will allow The Sports Bra to franchise and expand to other cities, with 100% of returns going to women's sports programs.
  • The Sports Bra was founded by Jenny Nguyen to create a space that celebrates and supports women's sports.
  • The Sports Bra was a national sensation, raising double its Kickstarter goal and generating $1 million in revenue in its first 8 months.
  • The investment demonstrates the growing recognition of the importance and potential of women's sports.