"Brilliance in braids" - Serena Williams brings up her African-American heritage as she calls out start-ups that overlook 'diversity'
Serena Williams recently talked about the things she looks for in businesses seeking her investment. Williams, a 23-time Major champion, retired from tennis in 2022 but had begun taking steps to secure her future business career well before that. In 2014 she began Serena Ventures, a venture capital firm, which she formally announced to the world in 2019.
In conjunction with business partner Alison Rapaport Stilman, the firm has its HQ in the San Francisco Bay Area and pursues early-stage and seed investments. The company has a portfolio of more than 50 investments across a range of industries, including IT, healthcare, e-commerce and wellness.
Serena Williams used her X account to showcase her investment philosophy. Diversity, she stated, is at the heart of her approach; Williams has no time for investors who are unable to see beyond conventional opportunities.
She is particularly interested in supporting entrepreneurs from her African-American heritage. Williams said on X:
"Did you know startup with diverse teams perform better. So yes, we love a good ROI,but we also love a good “told-you-so” to every fund that overlooked brilliance in a hoodie and braids."
According to Serena Ventures' website, 53% of the companies they have supported were founded by women and 76% were started by people from traditionally underrepresented backgrounds.
Serena Williams and husband Alexis Ohanian are serial investors
Serena Williams is married to entrepreneur Alexis Ohanian, the Reddit co-founder. Ohanian has his own investment vehicle, Seven Seven Six, and the couple are serial supporters of several new ventures, including women's sport.
In 2022, Williams told Vogue Magazine that the end of her tennis career had dovetailed easily with her business career:
"In my own life, the balance has been slowly shifting toward Serena Ventures. I always say that I’m a sponge: At night I go to bed and I squeeze myself out so that the next day I can take up as much new information as I can. Every morning, I’m so excited to walk downstairs to my office and jump onto Zooms and start reviewing decks of companies we’re considering investing in."
Williams and Ohanian have joined forces to take up ownership of the women's soccer team, Angel City FC. They are co-owners of the Los Angeles Golf Club, one of the teams taking part in Tiger Woods's new TGL golfing venture. Williams also holds a minority stake in the NFL's Miami Dolphins.
The couple believes as much in a diverse portfolio as they do in the diversity of the people involved in the business.