Serena Williams will ramp up efforts to support marginalized entrepreneurs.<\/p>\n
The retired tennis legend has invested<\/a> in at least 85 companies, some of which fall under her venture capital firm, Serena Ventures.<\/p>\n The firm\u2019s portfolio is made up of 79% underrepresented founders<\/a>, including 54% women, 47% Black, and 11% Latino founders, as AFROTECH\u2122<\/a> previously reported.<\/p>\n Fortune noted<\/a> her portfolio<\/a> now includes decacorns \u2014 companies valued at over $10 billion \u2014 and more than 14 unicorns, which are businesses worth more than $1 billion.<\/p>\n An alarming statistic on how little venture capitalists allocated money to women motivated Williams to become a serial investor.<\/p>\n \u201cI learned that less than 2% of all VC money went to women,\u201d Williams shared<\/a> via TikTok, adding that she thought it was a misquote.<\/p>\n \u201cI thought, \u2018Well, they can\u2019t be real.\u2019 Like, we\u2019re talking about trillions of dollars, and what do you mean less than 2% of that goes to women?\u2026 I learned that when I first started investing,\u201d she said. \u201cI 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.\u201d<\/p>\n 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.<\/p>\n 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.<\/p>\n 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> a news release.<\/p>\n The program commits \u00a310 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.<\/p>\n \u201cSome of the world\u2019s most pressing healthcare challenges can be solved by bold, innovative ideas \u2013 if they are given the right support to thrive and scale. This includes mentorship, funding and unwavering belief,\u201d Williams said in the press release. \u201cI\u2019m honored to offer that as Reckitt\u2019s Entrepreneur-in-Residence and excited to share what I\u2019ve learned in both business and sport to help visionary ventures grow.\u201d<\/p>\n Acumen America Managing Partner Catherine Casey Nanda added, \u201cWe\u2019re 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.\u201d<\/p>\n