Serena Williams recently announced of a venture-capital fund which focuses on early-stage investment in companies led by women and people of color. The firm already invested in 30 companies like such as Wing, MasterClass and Brandless.
“In 2014, I launched Serena Ventures with the mission of giving opportunities to founders across an array of industries. Serena Ventures invests in companies that embrace diverse leadership, individual empowerment, creativity and opportunity”, the tennis icon announced in her Instagram account.
Her fund focuses on early-stage companies to give guidance to the young mentors and to broaden the reach of their companies. Through her fund, founders can get access to relationships and she encourages collaboration among portfolio companies to expand partnership opportunities.
The black community-owned hair company, Mayvenn stated on the tennis star, “We are proud to be part of Serena Ventures portfolio. As a black-owned, Oakland, California based company we’ve had humble beginning; we are committed to uplifting our community as we rise. Serena Williams is change maker with a passion for diversity and empowerment and we are grateful for her support.”
Serena Venture has brought on Alison Rapapport, formerly of JP Morgan to oversee the portfolio and lead the sourcing process.
According to Forbes Magazine, Serena Williams was the highest paid female athlete of 2018 bringing in $18.1 million thanks to an unmatched endorsement portfolio that included Nike, Intel, Lincoln, Gatorade and Beats.