Serena Williams, tennis champion and successful businesswoman and partner Alison Rapaport Stillman has raised a new fund, Inaugural Fund with $111M in funding to continue pursuing their mission.
Why it matters:
The company already manages a portfolio of over 60 angel investments and has backed 13 unicorns and six exits, all with her own capital. This is the first time the company has raised outside capital.
With an all-female team behind her, Ms. Williams has made it her mission to change the landscape of start-up investment and the opportunities that come with it.
In an ecosystem where solo women founders receive 2% of venture funding and Black founders receive 1.2%, the company breaks the mold. The company doesn’t require founders to come from historically underrepresented backgrounds, yet 76% of their portfolio founders do.
"I have been so impressed with Serena Ventures and the extraordinary mentorship and support they provide entrepreneurs. Serena has built an exceptional team of diverse experts with branding expertise and strategic advice to help founders as they navigate building their companies. With unique backgrounds and experiences, Serena Ventures brings an incredible network -- a network of which I am honored to be a part of. I am excited to support their growth," said Anne Wojcicki, CEO & Co-Founder of 23andMe and a limited partner in Serena Ventures.
