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Legendary American tennis player Serena Williams is doing groundbreaking work with her venture capital firm, Serena Ventures.
Before announcing her retirement as a professional tennis player in September 2022, Serena Williams had been involved in the world of investments.
Building on over a decade of experience, Williams established Serena Ventures in 2014, a venture capital fund supporting women and underrepresented founders.
However, the 42-year-old Ohio-born tennis legend recently made an astonishing revelation about her business enterprise.
Serena Williams’ Investment Philosophy
In a recent TikTok video, Williams expressed her motivation behind Serena Ventures, highlighting the stark underrepresentation of specific demographics in venture capital funding.
With a portfolio boasting 79% underrepresented founders, including 54% women founders and 47% Black founders, Williams says she is actively working to address this disparity.
“I invest in a lot of early companies, and I’ve always done this… It’s super important for me to make a plan B while doing my plan A,” Williams emphasized in her video.
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Meet Some of Serena Venture’s Unicorn Companies
Williams’ dedication has paid off. Fourteen of her portfolio companies have reached unicorn status, each valued at over $1 billion.
“I’ve invested, in my personal portfolio, in over 85 companies [maybe], and I also have about 14 unicorns,” the 23-time Grand Slam champion proudly announced on TikTok.
According to Fortune, a unicorn is a privately held startup valued at $1 billion or more. These companies are typically labeled “innovative” or “disruptive” and are anticipated to experience rapid growth.
According to a report from AFROTECH, Serena Williams’ investment portfolio includes healthcare startup HUED and Parfait, an artificial intelligence-powered platform specializing in customizable wig products led by Black women.
As per CNBC, Williams also detailed her investment in MasterClass, an edtech startup valued at $2.75 billion in 2021.
“I remember finding that company with eight people in a small room in a garage in San Francisco. And I just fell in love with what they were doing and what they were building,” she explained on TikTok.
Beyond MasterClass, Williams has also provided financial backing for Impossible Foods, a plant-based meat substitute company. Noom, a subscription-based weight-loss app, and Karat, a company that helps companies hire top engineering talent.
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They’ve also funded Esusu, which allows renters to acquire credit for their on-time rental payments. Calico is another company they’ve invested in. The supply chain management platform helps brands get to market faster and with fewer production errors. Serena Venture’s unicorn portfolio company also includes Wondermind. The mental health company democratizes and destigmatizes mental health globally.
