Serena Williams has shifted her focus to venture capital since retiring from professional tennis in September 2022. Her venture capital fund, Serena Ventures, was founded in 2014 with a mission to invest in women, people of color, and other underrepresented founders.
Williams was motivated to start Serena Ventures after learning that less than 2% of venture capital funding goes to women. “When I first heard that, I actually thought that was a misquote – I thought, that can’t be real,” Williams said in a TikTok video.
Serena Ventures’ Diverse Portfolio
Serena Ventures has invested in over 85 companies, with 79% of its portfolio consisting of underrepresented founders, 54% being women founders, 47% Black founders, and 11% Latinx founders.
This commitment to diversity and inclusion sets Serena Ventures apart in the male-dominated venture capital industry.
“A lot of times when you do invest in these companies… (they) tend to do just as well, if not better, because it’s a woman or it’s led by a person of color,” Williams said.
Achieving Unicorn Status
In her TikTok video, Williams revealed that 14 of the companies Serena Ventures has invested in have now reached unicorn status, meaning they are worth over $1 billion.
This achievement underscores the success of Williams’ investment strategy and her ability to identify high-potential startups led by underrepresented founders.
“When people are talking about diversity, that really means everyone having a seat at the table, everyone having an opportunity to win. And that’s what I like to focus on,” Williams said.
Turning Adversity into Opportunity
Growing up in Compton, Williams and her family had to be entrepreneurial to survive. This experience has shaped her perspective on the importance of supporting women and people of color in the business world.
“I feel like women and people of color actually have an advantage, because we often have to work harder to get to where we need to go. We also have to fight harder, because we’re not given those same advantages that other people are given,” Williams said.
Addressing the Funding Gap for Underrepresented Founders
The funding gap for women-founded startups and other underrepresented groups is a global issue, not just in the United States.
In Australia, for example, startups founded by women secured just 4% of the $3.5 billion in startup funding in 2023, while all-male teams received the vast majority of investment deals.
