After Building A Portfolio That Includes Decacorns And More Than 14 Unicorns, Serena Williams Will Now Mentor Health And Hygiene Startups
Serena Williams will ramp up efforts to support marginalized entrepreneurs.
The retired tennis legend has invested in at least 85 companies, some of which fall under her venture capital firm, Serena Ventures.
The firm’s portfolio is made up of 79% underrepresented founders, including 54% women, 47% Black, and 11% Latino founders, as AFROTECH™ previously reported.
Fortune noted her portfolio now includes decacorns — companies valued at over $10 billion — and more than 14 unicorns, which are businesses worth more than $1 billion.
An alarming statistic on how little venture capitalists allocated money to women motivated Williams to become a serial investor.
“I learned that less than 2% of all VC money went to women,” Williams shared via TikTok, adding that she thought it was a misquote.
“I thought, ‘Well, they can’t be real.’ Like, we’re talking about trillions of dollars, and what do you mean less than 2% of that goes to women?… I learned that when I first started investing,” she said. “I learned that actually was true and that was something that was happening. And so I knew right then and there that one day I wanted to raise a fund or raise money and invest in women.”
Now, Williams is further empowering her efforts through her alignment with Reckitt, which is behind health and hygiene brands such as Lysol, Durex, and Enfamil, according to Fortune.
The 23-time Grand Slam champion will serve as an Entrepreneur-in-Residence for Reckitt Catalyst, a global initiative aiming to support 200 health and hygiene startups across Africa, Asia and Latin America over the next five years.
She will directly mentor women and other underrepresented entrepreneurs. The effort will launch in partnership with Yunus Social Innovation, Acumen America and the Health Innovation Exchange (HIEX), according to a news release.
The program commits £10 million ($13.7 million) in funding and offers mentorship to 60 entrepreneurs. This mentorship, provided by Williams and other Reckitt leaders, aims to help them scale their innovative ideas.
“Some of the world’s most pressing healthcare challenges can be solved by bold, innovative ideas – if they are given the right support to thrive and scale. This includes mentorship, funding and unwavering belief,” Williams said in the press release. “I’m honored to offer that as Reckitt’s Entrepreneur-in-Residence and excited to share what I’ve learned in both business and sport to help visionary ventures grow.”
Acumen America Managing Partner Catherine Casey Nanda added, “We’re excited to enter a long-term partnership with Reckitt Catalyst and Serena Williams, which will expand our ability to invest in visionary entrepreneurs and the system-changing health and hygiene companies they are building.”
