The Strategic Investment
As previously reported by AfroTech, the company — led by co-founder and CEO Danyel Surrency Jones — announced its merger with PH Innovation Holdings, Inc. in 2021.
Now, slightly over a year later, PH Innovation Holdings has announced it has received a multimillion-dollar capital injection from Vanguard Holdings Group, according to a press release shared with AfroTech.
The group’s private tender offer (financial details were not disclosed) will “purchase all of the issued and outstanding shares from the minority shareholders in PHI providing liquidity to the longstanding stockholders of POWERHANDZ and PHI.”
After eight years of building her platform, Jones believes that this will serve its mission of delivering a 360-degree performance model dedicated to innovation, wealth building, and community. Through it all, she aims to use her voice in innovating and giving back to the community.
“We want to unapologetically disrupt the tunnel vision thought process of how you make an impact. You make an impact from a 360 perspective. So, that is definitely next from POWERHANDZ, The Power to Give Foundation, and the Vanguard Holdings Group and its partners that are acquiring us,” Jones told AfroTech. “The impact for [me] is I truly found my voice through all of the nos, the challenges as an entrepreneur building this business to working with different teams, and understanding that we are doing something that’s groundbreaking.”
The Limitless Potential
The press release notes that POWERHANDZ’s newly gained access through the private trust will lead to “limitless potential for strategic partnerships, philanthropic endeavors, and innovative programming spanning the globe.”
“We could not be more pleased to welcome POWERHANDZ into our portfolio of brands,” said Kenneth Alexander III, Principle, Vanguard Holdings Group, according to the press release. “We have watched Danyel’s leadership break barriers and expand this brand under confined access. This alliance will allow us to utilize our capital resources to accelerate investments in growing the company, both organically and through strategic M&A. This partnership will allow us to reach more athletes and shift mindsets about overall performance, physically and financially.”
The Ultimate Goal
Last year, along with the merger, LaMelo Ball became a general partner, brand ambassador, and board member of PH Innovation Holdings and The Power to Give Foundation.
According to Jones, the Charlotte Hornets star saw the scalability of what POWERHANDZ could bring early on. Ball betting on the company’s innovation has turned into working on multiple collaborations.
“LaMelo is light,” Jones shared. “I always describe him that way. He is one of those unique athletes that has such a bright future and will inspire so many kids across the globe. So, teaming up with LaMelo, his team, and Jermaine Jackson, has been an awesome opportunity for us to expand our impact organically.”
Ultimately, Jones hopes for her journey with POWERHANDZ to inspire Black girls and boys, especially those who aspire to pursue careers in sports technology, to see the impact Black women make globally.
“It’s groundbreaking in sports and fitness, looking at the statistics. It’s groundbreaking for M&A, looking at the statistics. Lots of M&A deals and transactions that have been done over the course of the years and trillions of dollars in those transactions, but not really in this space with a Black woman. So, that little girl and or brown boy can look at this and really be inspired because we didn’t do anything special other than we didn’t give up.”