Good morning, Broadsheet readers! Fearless Fund scores a legal win, Coty plans to list on the Paris Stock Exchange, and Alexis Ohanian’s venture capital firm invests in a coaching platform that supports Angel City and the NBA. Have a marvelous Thursday!
– Good coaching. Anita Hossain Choudhry cofounded the Grand in 2019 to help make coaching—the kinds top business executives receive—more accessible and more lasting. After a 2020 pandemic pivot, the Grand built a virtual platform for group coaching that allows participants to return to their coaching insights once sessions are over. “Coaching can be so ephemeral,” says Hossain Choudhry. “You have this incredible conversation, but a lot of times, it’s fleeting.”
The startup’s idea resonated with investors and two organizations that know the value of good coaching: the women’s soccer team Angel City FC and the NBA. Angel City tapped the Grand earlier this year to provide leadership coaching for players and staff; the NBA’s player development business mentorship program will soon begin using the platform to coach players figuring out “who they are and what value they bring to the world beyond the sport.”
And, Fortune is the first to report, Reddit cofounder Alexis Ohanian’s venture capital firm Seven Seven Six is leading the Grand’s $4.7 million seed funding round, returning after a $2.4 million pre-seed in May 2021. Ohanian views coaching that addresses the whole person—rather than solely professional goals—as an increasingly important component of business. “Emotional intelligence and genuine human connection are critical as complementary skills in the age of AI,” he said in a statement.
Hossain Choudhry, 38, is an executive coach herself. A former head of knowledge for First Round Capital, she’s now based in Milwaukee after years in New York and the Bay Area; her cofounder is the Grand’s chief product officer Rei Wang. Hossain Choudhry regards personal and professional coaching as a tool to address major societal problems, like the loneliness epidemic, especially for remote workers.
The platform has about 1,000 members, mostly ages 25 to 40 in the U.S. and internationally. Its programs, which include live virtual coaching sessions, peer groups, and a dashboard to track personal progress, cost around $3,000 per person per year. With this seed funding, the startup sees the opportunity to reach more people at an organizational level—like it’s doing with ACFC (partly owned by Ohanian) and the NBA—rather than the individual level.
“The picture I want to paint is that no one will have to walk alone,” Hossain Choudhry says. “They will feel seen and understand how to use their strengths to become the best version of themselves.”
Emma Hinchliffe
emma.hinchliffe@fortune.com
@_emmahinchliffe
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ALSO IN THE HEADLINES
- Action affirmed.Fearless Fund, the venture capital firm targeted by anti-affirmative action activist Edward Blum, can continue to award grants to Black women after a judge declined to issue an injunction. The judge said that the grants fall under requirements for charitable giving. The decision could ease pressure on other corporate diversity efforts.Washington Post
- Doubling down.Coty, the cosmetics company behind lines like CoverGirl and Maxx Factor, is doubling down on plans to slash debt and fund strategic investments through a dual listing on the Paris Stock Exchange. (It first went public on the NYSE in 2013.) The Paris listing is the latest move from CEO Sue Nabi, who has tripled the company’s share price since she took over in 2020.Financial Times
- Status update. A new interview with Linda Yaccarino sheds light on her ongoing stint as X CEO, which has been unpredictable from the start; Yaccarino found out owner Elon Musk had hired her via his public post. Now Yaccarino is focused on juggling her responsibilities with those of Musk, wooing back advertisers, and defending herself—as well as the platform—from controversy. Financial Times
- Backlog of praise. The woman who helped discover and pioneer the hormone behind in-demand weight loss drugs like Ozempic and Wegovy is speaking out about decades-long efforts to downplay her role in the research. Chemist Svetlana Mojsov says her contributions to the breakthrough have been mischaracterized and omitted for years. She received only half the royalties given to a male coworker once she won a legal battle for co-inventor credit.STAT
- Rest in peace.Pava LaPere was founder and CEO of the startup EcoMap Technologies and named to this year’s Forbes 30 under 30 List for Social Impact. The 26-year-old was found dead in Baltimore on Monday, and local police have set up a manhunt to find the sex offender they named as a suspect. New York Times
MOVERS AND SHAKERS: The American Civil Liberties Union appointed Kriston Alford McIntosh chief communications and marketing officer. JUST Capital named Alison Omens president.
ON MY RADAR
Why new celebrity fragrances keep coming Vogue Business
Romeo and Juliet was a tragedy Vulture
Michelle Buteau’s caring comedy The New Yorker
PARTING WORDS
"I don’t want to be a big fashion designer. I want to build a house for other people to become that."
—Actress Angelina Jolie on Atelier Jolie, the all-in-one café, design workshop, cultural center, and gallery space she's opening in November.
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