<p>In this episode, Kaavya sits down with Nicki Boyd, founder and managing partner of Sphera Partners, who shares her unique journey from a lifelong athlete to a seasoned investor now dedicated to the women's sports ecosystem. Nicki explains why investing in women's sports has transitioned from a DEI initiative to a compelling commercial opportunity, fully justified on an ROI basis, driven by a "flywheel" effect increasing fandom, production quality, and all three key revenue streams. They delve into Sphera Partners' "double bottom line" philosophy, their first investment in Upshot, a developmental women's basketball league in the US, and Nicki's long-term vision for both commercial success and societal impact in women's sports, focusing on community access, athlete well-being, and career transition.</p>