TLDR:
- Serena Williams is helping underrepresented founders through her venture capital fund, Serena Ventures.
- 14 companies invested in by Serena Ventures have reached unicorn status, worth over US$1 billion.
In a strategic move to support underrepresented founders, retired tennis star Serena Williams has been investing in women, people of color, and other underrepresented groups through her venture capital fund, Serena Ventures. Williams founded the organization in 2014 after realizing the significant underfunding faced by these groups in the entrepreneurial world. Of the 85 companies Serena Ventures has invested in, 79% are underrepresented founders, with 14 of them reaching unicorn status, valued at over US$1 billion.
Williams emphasized the importance of diversity and inclusivity in business, highlighting that companies led by women and people of color often perform just as well, if not better, as those led by others. Growing up in Compton, Williams shared that entrepreneurship was essential for survival and that women and people of color have had to work harder and fight harder due to the lack of opportunities given to them.
The article also points out the underfunding of women founders and underrepresented groups in the United States and Australia, citing statistics that show the disparity in startup funding allocation. In Australia, startups founded by women received just 4% of the total funding, with the vast majority going to all-male teams. Data also revealed a significant gap in VC funding for women-only founders and mixed-gender startups compared to all-male founders.
Williams’ efforts in supporting underrepresented founders through Serena Ventures not only highlight the importance of diversity and inclusivity in entrepreneurship but also emphasize the need to address funding disparities to create a more equitable startup ecosystem.
