“I am incredibly proud to be..”: How Stephen Curry backed Unrivaled when it was still finding its feet before the women’s basketball league surged to a $650 million valuation

Stephen Curry made his Unrivaled investment in March 2025, when the women’s 3-on-3 league was still in its early days. More than a year later, the decision looks far bigger. Unrivaled has grown into a major name in women’s basketball, and its latest funding round has pushed its valuation to $650 million.The change did not happen overnight. Curry joined a group of investors who backed the league because of its different approach to women’s basketball, particularly its focus on giving players a stake in what they helped build. Why Stephen Curry backed Unrivaled and its player-first approach?When Stephen Curry joined Unrivaled in March 2025, the league had already attracted major names from sports and entertainment. Its investor group included Giannis Antetokounmpo, Coco Gauff, Alex Morgan, Dawn Staley, Michael Phelps and Carmelo Anthony. Unrivaled had also raised $35 million through its seed and Series A rounds.The league came from WNBA stars Breanna Stewart and Napheesa Collier, who launched Unrivaled with a simple idea: create a new professional basketball product while giving players a meaningful share in the business.That part clearly caught the NBA legends attention.“I am incredibly proud to be joining the Unrivaled family as the league continues to set a new standard for how women’s professional sports should operate,” Curry said in a statement sent to Unrivaled on March 12, 2025. He added that the league was changing not only how basketball could be played, but also how athletes could be valued and invested in.That made Curry's role more interesting than a celebrity putting money into another sports venture. He was backing a league built around athlete ownership. Unrivaled gives players equity opportunities alongside salaries and benefits, keeping players at the center of the business model.And that model has grown considerably. By August 2026, Unrivaled said its player equity pool had climbed to nearly $200 million. Players also remained the league's largest equity group.For Stephen Curry, the investment also connected with his wider interest in growing the game beyond the NBA. Instead of simply attaching his name to women's basketball, he became part of the investor group helping Unrivaled build its own business. From $35 million in funding to a $650 million valuationThe numbers now show just how far Unrivaled has come. On Aug. 26, 2026, the league announced that its Series C funding round had passed its original $100 million target and pushed its valuation to $650 million. The round came after Unrivaled reached a $340 million valuation in September 2025.The league also started reaching larger audiences. On January 30, 2026, its Philadelphia stop drew 21,490 fans to Xfinity Mobile Arena, setting the venue's attendance record and the record for a regular-season professional women's basketball game.Unrivaled is now preparing for its third season, which begins in January 2027. The league has expanded to eight clubs and 54 players, while continuing to build its presence outside Miami.Stephen Curry made his investment when Unrivaled was still proving what it could become. Now, the $650 million valuation and growing crowds offer a clear look at the scale of the bet he made.Get the latest Sports News and Live updates. Download the TOI app.