Serena Williams' impact transcends her legendary tennis career, extending into the world of investment.
Since her retirement in September 2022, Williams has shifted her focus to venture capital. In 2014, she launched Serena Ventures, a venture capital fund aimed at supporting women and underrepresented founders. According to its LinkedIn profile, the fund prioritizes investing in early-stage companies led by diverse entrepreneurs.
"I've been investing for over 14 years, even while playing tennis," Williams explained in a TikTok video. "It was important for me to have a plan B while pursuing my plan A."
The inspiration for Serena Ventures arose from the realization of a stark absence of venture capital directed toward certain demographics. As noted on the company's website, 79% of Serena Ventures' portfolio consists of underrepresented founders, including 54% women founders, 47% Black founders, and 11% Latino founders.
Williams emphasized the significant disparity in venture capital funding allocated to women and people of color. "Less than 2% of all VC money goes to women, and even less to people of color," she shared on TikTok.
Her investment portfolio, as detailed on TikTok, includes over 85 companies, with notable investments in healthcare startup HUED and Parfait, an AI-powered platform for customizable wig products, both founded by Black women.
Williams also invested in MasterClass, an edtech startup valued at $2.75 billion in 2021, as reported by CNBC. She reminisced about discovering MasterClass when it was just a small team in a garage in San Francisco.
In addition to MasterClass, Williams has backed companies like Impossible Foods, Noom, and Karat, contributing to their growth and success.
Williams proudly stated that 14 companies in her portfolio have achieved unicorn status, which means they have reached a valuation of $1 billion or more. This milestone reflects the potential and innovation of these startups, supported by Williams' strategic investments.
In the realm of unicorns, Williams' investments have propelled companies to significant heights, enabling them to expand their operations and realize their long-term visions.