The entire world turned its eyes toward Serena Williams after CNBC Sports claimed that the ‘Queen of Courts’ invested a humongous amount in the women’s 3-on-3 basketball league, Unrivaled. The headline read, “Serena Williams invests in women’s basketball league Unrivaled, now valued at $340 million.” At first glance, this doesn’t really feel wrong at all. After all, the venture capital fund has already invested millions in regions like food and wellness, beauty, etc. However, according to the former WTA #1, it was factually incorrect. 

A venture capital fund invests from a pool of money that it receives from numerous investors. The investments usually target a high-potential, early-stage startup or small business, in exchange for equity in the said company. Hence, to say that Serena Williams was the one to invest in Unrivaled would be a pretty big mistake. But ever since its launch in 2014, the venture capital fund has been a highlight of Williams’ post-retirement achievements. This usually blurs the line between the venture capital fund and Williams, whose name is always associated with the funds. And that’s exactly what happened this time. 

Soon after she stumbled upon the article, Williams took to X and decided to clear things out. She claimed, “This headline is inaccurate. Serena Williams (me) did not personally invest in Unrivaled.” Williams explained that a venture fund by the name of Serena Ventures, which is managed by Beth Ferreira, was the entity that invested in the basketball league. But isn’t she a vital part of Serena Ventures? 

Well, there’s a catch. Serena Williams continued, “I remain a partner at Serena Ventures, not in an operational role. To say that Serena Williams, a person, and Serena Ventures, an institution, are one and the same is inaccurate.” Nevertheless, Serena Ventures is a representation of the former athlete whenever the company decides to invest in the development of women in sports.

The venture has invested in Angel City FC (women’s soccer), Toronto Tempo (WNBA expansion), Cloud9 Esports, and even non-sports organizations prioritizing female and minority founders. On the tech front, Serena Ventures injected over $1 million into OpenSponsorship, supporting athlete empowerment through sponsorship access. But do you know the reason why the tennis superstar began Serena Ventures?

The former world number one kick-started Serena Ventures with one thing on her mind. Let’s find out what that is. 

Serena Williams weighs in on the reason behind Serena Ventures

After raising $111M as an inaugural fund, the ‘Queen of Courts’ revealed the reason behind starting the venture capital fund. She claimed, “The reason I started Serena Ventures is because I feel like the venture capital ecosystem really needs an inclusive player, and a player with a platform to make the necessary intact change at scale.”

But the thrill in her voice as she made the announcement? It was absolutely real! She continued, “So we have that opportunity here, so we are looking at FinTech, we are looking at market places as well. I like to use my brand and Serena to reach that need and fill that void that the market has.” 

But wait! There’s more! Serena Ventures doesn’t just invest in companies. It does so to make sure that the money really has an impact on the everyday life of everyday people. And the inspiration? It came from a seminar, where a lady disclosed her lesson: “2% of all VC money went to women, even less went to people of color.” And that seemingly flipped a switch in Williams, and she made sure that her own VC fund had a commendable impact. 

What are your thoughts on Serena Williams’ claims regarding the VC fund’s investment in the $340M basketball league?