Serena Williams just scored a major off-court win — this time, with her venture capital firm.
Serena Ventures announced on Wednesday that its first fund has raised $111 million. The fund will “invest in founders with diverse points of view,” according to The New York Times.
- The company has made angel investments in about 60 brands, including Daily Harvest and MasterClass.
- Its track record already includes six exits and 13 unicorns.
- Some of the fund’s limited partners include Liontree, Kapor Foundation, Norwest, and Capital G.
- 76% of founders in Serena Ventures’ current portfolio come from historically underrepresented backgrounds.
Williams began investing in 2014 but didn’t announce the company publicly until 2019. Her business partner is Alison Rapaport Stillman, whose résumé includes Wasserman and J.P. Morgan.
A Portfolio of Her Own
Williams’ venture capital firm is just one of many business ventures the tennis star has pursued in recent years.
The 23-time Grand Slam champion also raked in $45 million in off-court earnings in 2021, according to Forbes, second only to Naomi Osaka among female athletes.
Williams, who owns an estimated 0.5% stake in the Miami Dolphins, is on Poshmark’s board of directors, and also launched clothing line S by Serena in 2018. In April 2021, she signed a TV deal with Amazon.