Spindrift, the sparkling water and soda company bought by private equity firm Gryphon Investors this year, has gained some more fizz through several investors from the sports world, including Kevin Durant.
Other investors include Pittsburgh Steelers wideout DK Metcalf, UConn star guard Azzi Fudd, Boston Celtics guard Derrick White, influencer and former LSU gymnast Livvy Dunne and FC Dallas goalkeeper Maarten Paes.
Paes, who is in the early stages of building out his investment portfolio, was surprised to see his name in this “who’s who” of athlete investors. “I didn’t know the full extent of the roster,” the 27-year-old netminder said in a phone interview. “So now, seeing those names, it’s really cool to be affiliated with them.”
For the Spindrift investment, he connected with Patricof Co., a firm that partners with professional athletes seeking out the best investment opportunities. Launched by Mark Patricof, son of famed venture capitalist Alan Patricof, the firm has recruited athletes looking to invest 10-30% of their net worth into private equity deals.
Additionally, Paes is one of 30 athlete investors in Ballers, a social club concept aiming to capitalize off the popularity of padel (his favorite sport outside of soccer) and pickleball. In June, Ballers raised $20 million in a Series A venture capital round led by Sharp Alpha, with tennis luminaries Andre Agassi, Kim Clijsters and Sloane Stephens investing in the concept.
Paes said that when he arrived in the U.S., he looked to Durant, who was recently traded to the Houston Rockets, and LeBron James as athletes he wanted to emulate for leveraging their fame into successful businesses off the court. He said his investments in the states will inform how he chooses investments elsewhere.
“I think right now, the way how the U.S. is structured, I think this is a very good way to start and take those learning lessons all over the world in a global fashion,” Paes said.
Paes—who holds dual citizenship in the Netherlands and Indonesia, in addition to his permanent resident status in the U.S.—was recently called up by Indonesia to play in the Asian qualifiers for the 2026 FIFA World Cup.
Spindrift CEO David Burwick said that the investing athletes were already fans of the brand and made for a natural match. The company competes with other seltzers and sparkling water sellers such as Sanpellegrino, La Croix, Polar, Coca-Cola’s TopoChico and PepsiCo’s Bubly, as well as store-brand options.
In January, Spindrift was sold to private equity firm Gryphon Investors, with the San Francisco-based private equity firm buying a majority stake in the beverage company for $650 million. Spindrift’s founder and CEO Bill Creelman shifted to chair of the company board while Burwick, the former CEO of Boston Beer Company (makers of Samuel Adams beer), was brought on as Spindrift’s new chief executive.