Learn more about the other winners:ey.com/us/eoynewyork. Allen Lee is a Toronto-based freelance writer who studied business in school but has since turned to other pursuits. Now, she's looking at giving back in sports by partnering with Secret to find ways to push . The tennis superstar Serena Williams has found time to pick up a side gig on top of winning championships and taking care of her adorable daughter, that is. The pair also partnered in a pitch competition in which two winners with female founders were chosen for funding from Serena and Bumble. Brandon Gerson, Expert Dojo What better way to preach that message? asks Williams. Numida secures $16.7 million CAD in Serena Ventures-led round to equip The 50 highest-paid athletes in the world made $2.6 billion last year, versus $1 billion 15 years ago. Pavan Sethi, Serena Ventures "We invested in Esusus mission and have a strong conviction in the potential of this space," Williams said in a statement at the time. Serena Ventures has achieved its mission by investing heavily in women, especially black women. ", NIKE UNVEILS NEW SERENA WILLIAMS BUILDING: IT IS BEYOND AN HONOR. Williams founded Serena Ventures in 2014 after learning during a J.P. Morgan Chase conference that less than 2% of all venture capital money went to women. Serena Ventures' investments span numerous industries, including food, health and wellness, e-commerce, and fashion. Thats how we met. Between Reddit and his $500 million fund, Initialized Capital, Ohanian does his part. Which piece of advice is most helpful to you at this point in your career? It really shaped me for the rest of my career both on and off the court in terms of taking a chance and how to be different and how to stand out, Williams says of his strategy. The two celebrate, in part, with the kind of outing anyone whos not the most famous woman athlete in the world takes for granted: a stroll in a hotel garden with their joint venture, 22-month-old Olympia, in tow. While Serena Ventures, as her small firm is known, is among a tiny number of VC firms owned by Black women, that's changing, albeit slowly, says Sydney Sykes, a partner at Lightspeed Venture Partners, a Silicon Valley-based VC firm that invests heavily in early-stage, female-led businesses. I learned you cant overspend, but I also learned that I love seed investing, she says. Because in most cases, they are not really familiar with this world and if you are doing it to feed your ego, its a bad idea.. "But the statistics kind of speak for themselves.". In the venture capital business, founders "need to be a little bit superhuman" to succeed, he says, and Williams certainly qualifies. 34.8k Followers, 242 Following, 25 Posts - See Instagram photos and videos from Serena Ventures (@serena.ventures) Williams appeared on Forbes 2022 list of Americas Richest Self-Made Women in June worth an estimated $260 million. And Williams is hardly the first to put newfound disposable income to active workin the NBA alone, LeBron James, Stephen Curry and Kevin Durant have all launched media companies, and Durant, Andre Iguodala and Carmelo Anthony are active venture capital investors. Therefore, it is no surprise that Stillman disclosed that Serena Ventures is interested in other sectors, such as online education. Williams could help multiply that effect even more given her high profile not only as a star athlete, but as a Black female CEO of a venture capital firm, Robinson says. Access your favorite topics in a personalized feed while you're on the go. Theres Chris Lyons, from Andreessen Horowitz, who is an informal advisor and friend. Top performers include Billie, Daily Harvest, MasterClass and The Wing. But Serena Williams wouldnt be one of the all-time great competitors without also needing to invest more in herself. She said that when she first ventured into investing, it was hard to hack her way around it, but now she is an expert. Serena Ventures - Investments, Portfolio & Company Exits - Crunchbase "I want to be remembered for things I do off the court; lives Ive been able to impact and voices that have been heard through mine.". Stefan Mitu, VU Venture Partners Bumble and Serena Ventures invest in Alice Series A Overall, Ohanian is skeptical of the trend. This story appears in the June 30, 2019 issue of Forbes Magazine. While Serena Williams Plays Her Final Matches At U.S. Open - Forbes Yes, shell keep competing at tennisher resilient comeback last year after giving birth burnished her as a cultural icon who transcends sports. Additionally, the investment firm will work to mentor young founders and emerging entrepreneurs. The line got a boost in October when Williams close friend Meghan Markle was spotted wearing the collections Boss blazer, which quickly sold out on the website. ", Noom, a subscription-based app for tracking a person's food intake and exercise habits, announced an investment from Serena Ventures in 2019. Founded Date 2014. Apr 13, 2022 Serena Williams made her entrance at Smashbox Studios in Culver City, California, so quickly and quietly that some didn't even realize she'd come in until she was tucked away in her dressing room. Brace yourselves for the ultimate lineup of rockstar entrepreneurs who are taking the startup world by storm! Dedicated Support Team: Enjoy the guidance and expertise of our dedicated support team, including a Food Supply Chain expert and Account Manager, who will be there to assist you every step of the way. Athletes are richer than ever, thanks to the explosion in TV rights fees for live sporting events, which trickle down to players. "No one is going to look at venture capital and say it's a success at diversity," Sykes says. Serena Williams, one of the top tennis players, has publicly launched a venture fund called Serena Ventures. NOW WATCH: Serena Williams and Alexis Ohanian have a combined net worth of $189 million. Using her platform to talk about our mission was the biggest support weve had besides her capital, says Georgina Gooley, cofounder of Billie, which makes razors priced to eliminate the pink tax that makes female-targeted products cost more than similar versions for men. Just 2.3% of the total venture capital invested last year in the U.S. went to women-led startupsand even when including firms with both a male and female founder, youre just at 10%. The numbers are worse for black and Hispanic founders. Powered and implemented byFactSet Digital Solutions. Shed already bet on 34 startups, focusing on companies started by women and minorities. Learn more here: https://lnkd.in/g2pWT_bh @andrewrsorkin Facebook, Lauren Hirsch joined the New York Times from CNBC in 2020, covering business, policy and mergers and acquisitions. And that fame carries almost no brand downsideher appeal rates above average across all demographics, from Millennials to blue collar to high income, says Henry Schafer, who tracks Q Scores, which measure the likeability of a celebrity. Wile is a female-founded and female-formulated plant-based supplement company catering to the needs of women over 40. Of the 34 companies shes backed through Serena Ventures, more than three quarters are early-stage. Serena Williams talks mom guilt, her venture capital firm & 'King On the business side, the entrepreneur launched Serena Ventures to fund several women-owned companies. Flexible Payment Options: Conveniently manage your bills with the choice of ACH or check payments, giving you flexibility and control over your financial transactions. | Getty Images. Serena Williams Feels Your Pain, And She's Launching A - Forbes This feature is in beta and may change with future updates. hide caption. The Wing is a network of work and community spaces designed for women. Stillman explained that having a diverse team led by women ensures that the mission is met without straining. She kept waiting for someone to fund a company for her to design clothing, she says, but I was thinking of this the wrong way. According to Serena Ventures' website, 53% of the companies in its investment portfolio are founded by women, while 47% have Black founders and 12% have Latino founders. "We just haven't made as much progress with traditional venture capital firms as we would have hoped by now. Custom Food Spend Analysis: Gain deep insights into your food spending habits and identify opportunities to optimize costs. In an essay she wrote for Vogue magazine detailing her plans, Williams who is married to Alexis Ohanian, a tech entrepreneur and co-founder of Reddit who also started a venture capital firm a decade ago said that 78% of her VC's portfolio "happens to be companies started by women and people of color, because that's who we are. Drop a in the comments below. "I launched Serena Ventures with the mission of giving opportunities to founders across an array of industries," Williams said in her announcement on Instagram. Serena Ventures - For Entrepreneurs I knew this was our girl, Williams says. Only Serena Williams, the 23-time Grand Slam champion, could draw the mix of bold-faced names who showed up at the Arthur Ashe Stadium in Flushing Meadows to watch her performance at the U.S. Open on Monday night: Mike Tyson sitting next to Martina Navratilova. (Patrick T. Fallon/Bloomberg via Getty Images). According to The Global VC, Williams widened the eligibility criteria, and the venture capital firm will currently take on anyone with a good idea. Yes, theres a social purpose to that decision. Its not fancy, its not here, its not out, its not trendy, its a staple, like my tennis game.. Investor Type Micro VC, Venture Capital. For more mature deals, traditional venture firms need to take large ownership stakes to hit return targets. "It's kind of jaw-dropping," says Robinson, who earned his MBA from Columbia Business School. Alison Rapaport, 29, was fresh out of Harvard Business School with an M.B.A. after a five-year stint in JPMorgans asset-management group, when she got connected with Williams through Andreessens Lyons. I was talking, and Serena interrupted me and started asking all these questions about their distribution channels, KPIs and growth strategies, he says. They have openings for a marketing lead and a senior product manager. She also often forgot to collect her winnings from tournaments, and the directors would hand the checks to her because she never went to get them. As their business has, Read More 20 Things You Didnt Know about Urban CompanyContinue, Jack Ma, a teacher who created Alibaba, began operations in 1999. So Williams tries to put money in deals where her fame and brand and platform grow the pie. Founded in 2014, Serena Ventures is a venture capital firm based in Washington, District of Columbia. I dont gamble. . Its a different way to train that challenges me and has made me a lot stronger," Williams said. But it turns out that Williams has quietly been playing that game, too. Exactly four years ago, in exactly that Eternal City, she met her husband, Alexis Ohanian, cofounder of online community Reddit. Williams, though, is happy to ride along. However, the privately-held company has taken its time in making significant funding rounds, with the $111 million being its first fund. And over the past five years, shes been quietly dropping money into 34 startups. In March, the. (Noom). Since its inception, Alibaba has transformed e-commerce and broken numerous records. Williams has a net worth of $260 million, according to real-time tracking by Forbes. On March 1, 2022, the news of Serena Williams raising $111 million for Serena Ventures hit the headlines. As venture investing goes, given her net worth, its still low-risk stuff. AI-powered Invoice Management: Say goodbye to manual invoice processing! Fast Deposits: Experience faster cash flow with deposits processed within 12 business days, allowing you to focus on running your restaurant without delays. Rapaport did her homework on the investment ideasand diligence on her potential new boss, who earlier in the week posted on Instagram how much she liked Taco Sunday. The investment firm led by the tennis star is already an active angel investor with a portfolio of 60 companies that includes SendWave, MasterClass and Daily Harvest. The regal surroundings befit a historic figure of American sport, who has 23 Grand Slam titles and has blown away any number of barriers and stereotypes. Serena Ventures (@serena.ventures) Instagram photos and videos Exciting News from Zitti! According to The New York Times, the tennis player was in disbelief so she went up to Seidman-Becker to confirm if the figure was true. In April, Williams formally announced that Serena Ventures is open for business, to fund others and launch companies herself. Visit our online store. On Serena Williams calendarwhich is to calendars what Jackson Pollock paintings are to artSaturdays are designated family time. But Serena Williams wouldnt be one of the all-time great competitors without also needing to invest more in herself. Tennis champion Serena Williams is hanging up her racket after the 2022 U.S. Open. Stillman said that to her, success is not having a quota to meet but waking up one day and finally realizing that they had 70% of women as their founders. The new digital era has made it a requirement for most major healthcare providers to use digital record-keeping that replaces many of, Read More Five Companies Leading the Way in Electronic Health RecordsContinue, Urban Company is a privately traded company headquartered in Gurgram, India. Watch Isoken Igbinedion, Simone Kendle & Ifueko I. chat about how they built their company and how they are revolutionizing the wig industry at the link below. "We focus on how much revenue they generate and [the] chance they create, because we recognize the multiplier effect is in the communities they serve. Sharon Bowen, chair of the New York Stock Exchange (NYSE), left, Serena Williams, pro tennis player and founder of Serena Ventures, and Alison Rapaport, managing partner of Serena Ventures, are shown during the opening bell on the floor of the NYSE on Aug. 26, 2022. That same month Serena Ventures invested in mental health startup Wondermind, cofounded by singer and actress Selena Gomez, Mandy Teefey and newsletter entrepreneur Daniella Pierson. Ive been really leaning on Alexis, she says. Diversity Spotlight (US Headquarters Only): Types of diversity represented in an organization, specifically of those who are founding members, currently the CEO, or have check-writing abilities in an investment firm. @laurenshirsch, A version of this article appears in print on. I want to be the brand, instead of just being the face. Given her longtime background in style and design, that means overweighting on fashion lines, jewelry and beauty products. 4 min read Serena Williams. And the returns so far seem promising; Serena Ventures says they currently value the portfolio at more than $10 million and double the initial investment. But in living through Ohanians deals, Williams has learned. And over the past five years, shes been quietly dropping money into 34 startups. It really shaped me for the rest of my career both on and off the court in terms of taking a chance and how to be different and how to stand out, Williams says of his strategy. On March 1, 2022, the news of Serena Williams raising $111 million for Serena Ventures hit the headlines. Although the venture capital firm is usually described as a new early-stage firm, it has been in existence since 2014. Five of her investments are up at least fivefold. Although there is no requirement for founders to come from underrepresented backgrounds, 76% of the founders are from historically underrepresented backgrounds. While Serena Ventures was inspired by a need to help more women get funding from venture capital firms, it has since allowed more founders into its fold. Noom, a subscription-based app for tracking a person's food intake and exercise habits, announced an investment for an undisclosed amount from Serena Ventures in 2019. So at Serena Ventures, she focuses on companies founded by women and minorities. And the unicorns? "We had a lot of conversation about access to capital and diversity of startups and venture capital coming out of the summer of 2020, kind of in the post- George Floyd, Breonna Taylor, Ahmaud Arbery conversation," he says. The funds limited partners include Norwest Venture Partners, Capital G (Alphabets growth fund) and LionTree. That kind of investor-as-rainmaker power translates into another benefit: deal flow. Serena Williams raises $111 million for new venture fund. About Serena Ventures has made 63 investments. Our self-serve platform is a significant milestone in our mission to support your success. After 20 years in the spotlight, Williams knows how to handle the star power. Their most recent investment was on Mar 3, 2023, when SoLo Funds raised Serena Ventures has made 34 diversity investments. In 2014, Serena Williams launched Serena Ventures with the mission of giving opportunities to founders across an array of industries. Power Game: Williams invested in 34 startups over the past five years. I told her, Dont change a thing.. Their fathers insistence that his precocious daughters avoid the private tennis academy machine and well-oiled junior tournament circuit left a mark on the younger one, especially after she won her first Grand Slam title at age 17. How many investments has this organization made over time? Check-in with yourself daily Ben Camara, Remote Coach Rapaport arrived at Williams home outside San Francisco for a Sunday meeting at noon armed with investment ideas and two bags of takeout, make-your-own tacos, and she handled Ohanians rapid-fire follow-up emails with aplomb. Serena Capital The past decade has given rise to the celebrity VC investor, spurred by the success of people like the actor Ashton Kutcher and the musician Nas, who both have their own funds. We're honored to see Esusu included alongside so many transformational companies. Ive always been fascinated with technology, and Ive always loved how it really shapes our lives, said Ms. Williams, who has been investing for nine years. In 2019, the year that Williams became the first athlete to appear on Forbes annual list of Americas Richest Self-Made Women, Forbes interviewed Williams about her plans as an investor and featured her in a cover story for the magazine. Innovative tools and services empower creators to launch products while selling on social. Serena Ventures, the venture fund of four-time Olympic tennis champion Serena Williams', led the $7.3 million equity portion of the round, with participation from Breega, 4Di Capital, Launch Africa, Soma Capital, Y Combinator, and existing investor MFS Africa, which is following on. Check out this incredible collection at https://lnkd.in/e7H_Fma7 Serena Ventures Startups Uganda Y Combinator Apps Meta says it is experimenting with AI-powered chat on WhatsApp and Messenger Ivan Mehta 10:18 PM PST February 27, 2023 No company is immune. Her interest in seeing women and people of color being accorded the same opportunities as everyone else also led her to invest in bitcoin. https://lnkd.in/eRucZHnm. We asked startup founders (including some funded by Serena Ventures) for their best advice "Serena Ventures has been an all-female business until recently, when we brought in our first guy a diversity hire!". nother benefit of early-stage investing: Even with 34 checks written, she has still sunk only an estimated $6 million into these companies. Serena Williams' most notable venture capital firm investments But one mentor stands above the restthe one she married. We unlock value for investors, doors for founders, and opportunities for everyone to live better. #restaurants #restaurantbusiness #restaurantmanagement #hospitalityindustry #foodservice #restaurantowners #IndependentRestaurants #FoodCostControl #restaurantoperations #KitchenEfficiency #MenuEngineering. The list includes the top 50 breakthrough companies that show promising scalability and the potential to disrupt established industries. Visit BusinessInsider.com for more stories. When everyone zigs, she zags. The dating and networking app Bumble added Williams as an endorser for 2019, including a Super Bowl ad. (Tonal). SAN FRANCISCO, Dec. 12, 2019 /PRNewswire/ -- Alice, a free platform that guides business owners through the growth of their company, today announced Bumble and Serena Ventures as investors in Alice that will ensure every founder, no matter their background, has the opportunity to launch and scale. Serena Ventures Investor Profile: Portfolio & Exits | PitchBook Check out the video below in collaboration with LinkedIn News for insightful advice from some of our founders! It is a free online learning community that aims at helping students pass Advanced Placement exams. . Which industries has this organization had the most exits in? Exactly four years ago, in exactly that Eternal City, she met her husband, Alexis Ohanian, cofounder of online community Reddit. How Reddit cofounder Alexis Ohanian and tennis superstar Serena Williams met and fell in love. Between Reddit and his $500 million fund, Initialized Capital, Ohanian does his part. But one mentor stands above the restthe one she married. Overall, Ohanian is skeptical of the trend. And she says, No, its true. And I literally couldnt wrap my mind around the fact that 98 percent of all of this money were talking about billions of dollars goes to one type of individual.. I want to create a brand that has longevity, kind of like my career, she says. "But what I will say is now founders are the ones that come to investors and say, 'I want to diversify my capital.' The line includes dresses, jackets, tops, denim and more, mostly priced under $200. She is more passionate than 99% of the people in this space, says Lyons. Serena Williams Will Perform Recovery Brand Launch 2022 - Harper's BAZAAR he story of how sisters Serena and Venus Williams reached the top of the tennis world is the stuff of Hollywood legend: A black father with limited tennis experience homeschools his two daughters and teaches them on the streets of Compton, California, to penetrate and then dominate a lily-white sport. Other individual investors in the round included Jay Brown, Kirk Cousins, Paul George, Jay-Z, Trevor Noah, Alexis Ohanian, Kal Penn, Katy Perry, Questlove, Ruby Rose, Phil Rosenthal, Jaden Smith, will.i.am and Zedd. Dr. Ruth. Diversity Spotlight (US Headquarters Only). Our AI-powered system automates invoice management, saving you time and reducing errors. Get ready for your trip to one of Missouri's State Parks. Serena Ventures, Bumble fund tech company with MeToo 'morality clause' (The tennis star is also on the board of the social shopping platform Poshmark.). The 23-time Grand Slam winner has taken an interest in investing in start-ups since meeting her . How Serena Williams is planning to disrupt tech - New York Post Wondermind Raises Series A Funding - WWD So at Serena Ventures, she focuses on companies founded by women and minorities. David Mandel, Emerging Ventures Capital While a dinosaur in the tennis world at 37, she still figures she has two or maybe even three years left. Courtesy Image. And that fame carries almost no brand downsideher appeal rates above average across all demographics, from Millennials to blue collar to high income, says Henry Schafer, who tracks Q Scores, which measure the likeability of a celebrity. Legal Statement. The most significant IPO in global history took place in 2014 when Alibaba, Read More 10 Companies Similar to AlibabaContinue, Vicarius is a technology startup that specializes in providing remediation for network vulnerabilities against cyber attacks. Serena Williams raises $111 million for new venture fund. Williams had never heard of Reddit when the pair met in 2015 and Ohanian knew little about tennis. The athlete revealed that unless something is life-changing or affects the world, then she does not feel the need to include it in her portfolio. Among other things, BLCK VC offers a nine-week program designed to help young professionals break into the venture capital business. The venture-capital firm has been quietly backing companies since 2014 and has invested in more than 30 companies already. Focus on what's working Alexandra Zatarain, Eight Sleep Related Hubs Serena Ventures Portfolio Companies. The website for Serena Ventures lists Alison Rapaport as the vice president of the firm, and the only other employee besides Williams. Its more romantic than it sounds: The Rome Cavalieri goes so far as to call its 15-acre garden a private park, littered with marble and bronze, lions and unicorns. Market data provided byFactset. In her tribute on Monday night, Billie Jean King called out Williams efforts to use her fame and her name to make change. In April, Williams formally announced that Serena Ventures is open for business, to fund others and launch companies herself. She realized the only way to help people get funding was if another woman, especially a woman of color, was writing the checks. Serena Ventures invests in companies that embrace diverse leadership, individual empowerment, creativity and opportunity. Its fun to get in there. Esusu is a company that allows renters to acquire credit for their on-time rental payments, proving to be a win-win addition . Click the link below to read more! I am in no rush to get out of this sport, she says. Five of her investments are up at least fivefold. When Sykes started out in venture capital in 2016, she says barely 2% of investors at VC firms were Black. I always ask her advice in a lot of different areas, Williams says. The athlete said it is important to expand bitcoin investment to the minority groups because bitcoin will not always be available, arguing that the 21 million coins to ever exist make the cryptocurrency a worthy investment tool. The firm has invested in more than 60 start-ups and announced in March that it raised $111 million. But she is one of the few specifically gearing investments around a single north star: herself. Onstage at an event, Ms. Seidman-Becker said less than 2 percent of venture money went to women. Primary San Francisco, CA, US Get directions Employees at Serena Ventures Pavan Sethi Investor at Serena Ventures Veronica Reaves Investor at Serena Ventures + Founder of Black Women in. I want to be in the infrastructure. Athletes are richer than ever, thanks to the explosion in TV. Our Untapped AI Startup Pitchfest Burbank is about to get lit with the presence of these extraordinary judges, who are simply the crme de la crme of the venture capital ecosystem! Whether you're a small local eatery or a growing chain, Zitti is here to help you thrive in the ever-evolving food industry. The two celebrate, in part, with the kind of outing anyone whos not the most famous woman athlete in the world takes for granted: a stroll in a hotel garden with their joint venture, 22-month-old Olympia, in tow. This site uses Akismet to reduce spam. Spring Venture Group | LinkedIn A LOOK AT SERENA WILLIAMS' CAREER EARNINGS FOLLOWING ANNOUNCEMENT THAT HER CAREER IS WINDING DOWN.