Serena Williams Unveils VC Firm to Fund Minority Companies

April 26, 2019

US tennis superstar Serena Williams has publicly launched a venture fund called Serena Ventures which focuses on early-stage investments in companies led by women and people of color.

 In a post on her official Instagram account, the 23-time Grand Slam winner revealed that Serena Ventures has quietly been investing in a variety of startups since 2014.

Serena Ventures’ website states that the company invests in firms that ‘embrace diverse leadership, individual empowerment, creativity and opportunity’, a mission which was echoed in Williams’ Instagram post.

"I launched Serena Ventures with the mission of giving opportunities to founders across an array of industries," Williams said in her announcement on Instagram.

The firm’s website counts 30 startups in its portfolio with an accumulated market capitalisation of US$12 billion. The early stage companies already listed span a number of industries including food, health and wellness, ecommerce and fashion.

Among the startups that the investment vehicle has already backed are meal-delivery services Daily Harvest and Gobble, home fitness system Tonal, women’s razor brand Billie, cryptocurrency exchange Coinbase, female coworking startup the Wing, and Propel, which offers financial software for low-income Americans.

According to Forbes, Williams was the highest paid female athlete in 2018, bringing in US$18.1 million thanks to an unmatched endorsement portfolio which includes deals with Nike, Intel, Audemars Piguet, JPMorgan Chase, Lincoln, Gatorade and Beats.