AO Ventures Makes Additional Investment in Padel Infrastructure Builder Mindspring Padel
Following its initial investment in early 2025, AO Ventures, the venture capital fund of the Australian Open (AO), has announced an additional investment in padel court infrastructure builder Mindspring Padel and will join its board, further deepening their strategic partnership.
The official press release stated: "Currently, no other company in the world generates revenue from padel courts, which positions Mindspring firmly as the leader in this space."
Related reading: Over the past year, AO Ventures invested in four companies: two sports tech, two padel-related
Mindspring Padel was co-founded in March 2024 by sports marketing legend Craig Thompson (pictured below) and business partner Anton Brams. Thompson previously managed the UEFA Champions League, the Champions Hockey League, and served as CEO of the America's Cup.
Mindspring Padel's business model: Mindspring Padel fully funds the conversion of existing tennis courts or other spaces into padel courts, working with professional court suppliers and construction partners. Clubs avoid the large upfront capital expenditure typically required, while Mindspring earns returns through a share of court usage fees and membership dues.
The partnership process consists of five steps:
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Joint project assessment with the club and contract signing
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Site evaluation and construction plan development
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Court construction
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Assist clubs with training, community outreach, and court launch events
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Post-launch performance tracking and ongoing consulting
Mindspring Padel currently operates in 15 countries, including Germany, South Africa, Spain, and the Philippines, and entered the Australian market last month after reaching an agreement with Tennis Australia. Mindspring Padel aims to fund the construction of over 1,000 padel courts globally by 2027.
Commenting on the investment, Todd Deacon, General Partner of AO Ventures, said: "Padel is experiencing phenomenal global growth, but one of the biggest constraints to the sport's expansion is access to flexible capital for building quality infrastructure." He noted that this investment reflects AO Ventures' confidence in the long-term opportunity for padel and Mindspring's role in unlocking growth potential.
｜Source: Official press release, The Padel Paper
｜Image credit: Mindspring Padel official website, Craig Thompson personal LinkedIn