Serena Ventures, led by the one and only Serena Williams, has announced the raise of its inaugural $111 million fund.
In a blog post and press release announcement, it was revealed that the fund will be used to power early-stage startups. Williams’ past success consists of 13 unicorns and six exits, plus nine years of experience in the investment world. With that said, it makes sense why Serena Ventures is continuing her commitment to growing additional companies.
23andMe, the DNA company which is a limited partner in the venture capital fund, released a statement expressing its excitement about what the future holds.
“I have been so impressed with Serena Ventures and the extraordinary mentorship and support they provide entrepreneurs,” said Anne Wojcicki, CEO & Co-Founder of 23andMe. “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. I am excited to support their growth.”
The announcement further revealed that the inaugural fund was backed by the likes of Norwest, Capital G, Kapor Foundation, and Liontree, among others.
“The venture capital ecosystem needs an inclusive player with the platform necessary to enact change at scale, and this fund gives us an opportunity to take our mission to the next level,” read the statement. “The best is yet to come.”
Editorial note: This article was updated on March 2, 2022, to reflect updated investors to the inaugural fund.
Past Serena Ventures Investments
While this is Serena Ventures’ first-ever fund, the firm has invested in some early-stage startups in the past. Amongst the companies it has invested in are HUED and the Kopi Kenangan Indonesian coffee company, according to AfroTech.
According to CrunchBase, Serena Ventures — which was founded in 2014 — is a venture capital firm that focuses on early-stage startups. Of its 47 investments, 27 of them are diversity investments, and they’ve included the likes of Nude Barre, Esusu, and Every Mother.