{"id":5545,"date":"2023-10-16T12:22:32","date_gmt":"2023-10-16T11:22:32","guid":{"rendered":"https:\/\/50mm.sportspromedia.com\/?p=5545"},"modified":"2023-10-16T16:10:52","modified_gmt":"2023-10-16T15:10:52","slug":"ive-always-wanted-to-be-an-entrepreneur-why-michelle-wie-west-is-putting-investment-at-the-heart-of-life-after-golf","status":"publish","type":"post","link":"https:\/\/50mm.sportspro.com\/analysis\/2023\/ive-always-wanted-to-be-an-entrepreneur-why-michelle-wie-west-is-putting-investment-at-the-heart-of-life-after-golf\/","title":{"rendered":"\u2018I\u2019ve always wanted to be an entrepreneur\u2019: Why Michelle Wie West is putting investment at the heart of life after golf"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t

As Michelle Wie West attests, there are few downsides to being an equity investor in a tequila brand.<\/strong><\/p>

\u201cInvesting in a tequila company is a lot of fun,\u201d she tells SportsPro in September. \u201cLet me tell you, the tasting process is probably the most fun out of any other companies that I’ve been part of.\u201d<\/p>

Wie West\u2019s investment in Casa Azul came about initially due to her friendship with the brand\u2019s founder Lance Collins, who was also behind the creation of sports drink BodyArmor. His track record gave the now-retired golfer the confidence to put her faith in the company even when it was first being developed.<\/p>

\u201cI invested without even tasting the tequila,\u201d she recalls. \u201cI was like, \u2018I believe in you Lance, like I will invest in you\u2019. It’s been a really fun process so far. The product has been amazing and has been really well received as well.<\/p>

\u201cIt’s great to be part of a company that just knows what the mission is. They’re all about organic tequila, farm to bottle, really single sourced while being sustainable. It has all the things that I am passionate about, but also not to forget, tequila is supposed to be fun, and it tastes great too.\u201d<\/p>

Long before officially retiring from professional golf in July, ending an 18-year career which saw her break onto the scene as a teenager in 2003, when she became the youngest player ever to make the cut at the US Women\u2019s Open at the age of 13, Wie West had started to turn her attention to investing.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t
Wie West made the cut at the 2003 US Women's Open at just 13 years old<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t

As well as owning equity in Casa Azul, the American has also invested in fitness equipment specialist Tonal, artificial intelligence (AI) technology firm Sportsbox AI and, most recently<\/a>, the Los Angeles-based TGL franchise ahead of the golf league\u2019s upcoming inaugural season.<\/p>

Wie West credits both advisory firm Patricof and Co and data platform Pitchbook for helping to shape her investment portfolio. The former, founded by Mark Patricof, advises athletes on how to spend their money and Wie West has leaned on the company\u2019s expertise to inform her decision-making.<\/p>

Meanwhile, she describes Pitchbook as \u201cthe caddy\u201d to her investments. Specialising in data insights, the company has provided her with information on companies to complement her own background research before deciding whether to make an investment.<\/p>

\u201cMy portfolio has gotten a lot more diverse,\u201d she says. \u201cObviously, I feel very strongly and passionately about each company and I believe in their mission.<\/p>

\u201cMy investments are led with purpose, and there also are investments that I just believe are good investments. I think it’s important to keep a diverse portfolio, but also to do things that you’re passionate about and that you believe in.\u201d<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t

The Williams sisters, Alex Morgan and lessons from Stanford<\/h4>

Wie West is part of a new wave of athlete investors, several of whom are included in this year\u2019s list of the world\u2019s 50 Most Marketable Athletes. When asked which sports stars have inspired her own move into investment, Wie West mentions the Williams sisters and US women\u2019s soccer icon Alex Morgan.<\/p>

\u201cIt’s really cool seeing Serena Williams become one of the first female athletes to start their own fund and really invest in things that she believes in,\u201d she says.<\/p>

\u201cVenus is a big inspiration of mine as well. You know her as a tennis player, but her passion also lies in fashion, interior design and healthy eating. She’s really carved out a business for her in each of these endeavours and refuses to be pigeonholed as a tennis player.<\/p>

\u201cShe wants to branch out, that’s always something that I’ve admired and wanted to do. So they and Alex Morgan are huge inspirations of mine. A lot of athletes these days are just being really brave, making bold choices, and I take inspiration from all of them.\u201d<\/p>

For Wie West, the desire to take ownership of how she spends her time has been a key driver behind her investment career. She also credits her experience as a student at Stanford University, where she majored in communications, as having an influence on where she is today.<\/p>

Having attended classes alongside the likes of future Snap co-founder and chief executive Evan Spiegel, she looks back on this period as a time of inspiration, guided by the innovations that were developing around her.<\/p>

\u201cI’ve been very fortunate to have many sponsors, and many great sponsors that I’ve had very long relationships with,\u201d she explains. \u201cAnd it’s been fun in the second stage to really focus on investing in companies that I believe in, that I want to be a part in, that I want to give my time to.<\/p>

\u201cEach company that you’re partnered with is an investment of its own, because it includes your time. So there has to be the right method to look at that. But also, when it comes to investing, it’s fun. I’ve always wanted to be an entrepreneur and have my own thing.\u201d<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t\t\t\t\t\"\"\t\t\t\t\t\t\t\t\t\t\t
Wie West names the Williams sisters as inspirations for her increasing involvement in investing<\/figcaption>\n\t\t\t\t\t\t\t\t\t\t<\/figure>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t

Bringing a competitive mindset to investing<\/h4>

Having secured multiple sponsors during her playing career, including the likes of Nike and Sony, Wie West believes that her approach to investing is similar to how she evaluated potential endorsement deals \u2013 only with the added element of now needing to check whether the company she is backing is healthy financially and has the potential for success going forward.<\/p>

As for the similarities between her mindset as an athlete and as an investor, Wie West believes her fearlessness, willingness to take risks and focus on winning are skills that will also serve her well in the business world.<\/p>

\u201cThe one thing that I take away from being an athlete into the investment world is the discipline, to stay your course, but also to take risks and to not be afraid to fail,\u201d says Wie West, who won five tournaments on the LPGA Tour, including the US Women\u2019s Open in 2014.<\/p>

\u201cObviously, winning is everything, all you want to do is win,\u201d she continues. \u201cBut you also have to completely give away the fear of losing to win. Because once you’re afraid of losing, you’ll never win ever again.\u201d<\/p>

As well as analysing long-term potential and financials, Wie West also places a strong emphasis on a company\u2019s approach to diversity and sustainability when assessing investment opportunities. While each opportunity is examined on a \u201ccase-by-case\u201d basis, she examines how businesses address both issues, as well as advocating for female-led companies when there is an opportunity to do so.<\/p>

\u201cThere\u2019s no umbrella thing that I do,\u201d Wie West continues. \u201cBut there are companies that I reached out to. I reached out to Tonal just because I think the product is genius. I think it really can help democratise private training with gym equipment inside your house. We were also then going through a time of Covid and people were needing that.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t
<\/div>
<\/div>
<\/div><\/div><\/div>
<\/div>
<\/path><\/g><\/g><\/g><\/svg><\/div>
View this post on Instagram<\/div><\/div>
<\/div>
<\/div>
<\/div>
<\/div><\/div>
<\/div>
<\/div><\/div>
<\/div>
<\/div>
<\/div><\/div><\/div>
<\/div>
<\/div><\/div><\/a>

A post shared by Michelle Wie West (@michellewiewest)<\/a><\/p><\/div><\/blockquote>