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Wednesday, June 19, 2024

Serena Williams Pushes Selena Gomez’s Startup to $100M Valuation

  • Serena Ventures led a $5 million funding round for Wondermind.
  • The round values the mental health startup at $100 million.
Susan Mullane-USA TODAY Sports

In the same Vogue feature where Serena Williams announced her possible retirement after the U.S. Open, the tennis star said she’ll continue to prioritize investment in women-owned businesses. 

Days later, the 23-time Grand Slam champion is already holding true to her promise.

Williams’ venture fund, Serena Ventures, led a $5 million funding round in Selena Gomez’s Wondermind, valuing the mental health startup at $100 million.

  • Wondermind promotes mental fitness routines to maintain mental health, currently offering social media channels and a newsletter. 
  • The company is working on building a production division for mental health content and physical products with behavioral therapies.

Williams, who has discussed anxiety and postpartum emotions publicly, will help Wondermind with content and brand promotion. Lightspeed Venture Partners, Sequoia Capital, and former Allergan CEO Brent Saunders also took part in the round.

The mental health sector reached $5.5 billion last year, more than doubling its worth from 2020, according to CB Insights.

Serena Ventures’ Victories

Williams’ fund has already invested in over 60 companies including MasterClass, Tonal, and Impossible Foods, and 16 of those are valued at more than $1 billion. She is also a part-owner of the NWSL’s Angel City FC and NFL’s Miami Dolphins

“We’re obviously going to do more, and be a fund that does raise a billion dollars eventually,” Williams said. “One thing I’m good at is building a career.”

Forbes estimates Williams’ net worth at $260 million.

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