Serena Williams is expanding her investment portfolio by paying attention to sectors that are usually overlooked by traditional venture capital. The 23-time Grand Slam singles champion and four-time Olympic gold medalist has joined an initiative created by Reckitt to support up to 200 health and hygiene start-ups founded by women and under-represented entrepreneurs.
Known as Reckitt Catalyst, the initiative is a five-year, up to £10m ($13 million) commitment to provide these startups with funding, mentorship and expertise from Reckitt leaders and Williams. The goal is to improve access to health and hygiene for five million people by investing in visionary entrepreneurs and the health and hygiene companies they are building.
In a press release, Reckitt said women-led startups deliver 35% better returns and create six times more jobs than those led by men, but still only receive 2% of venture capital funding globally.
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As Reckitt’s first Entrepreneur-in-Residence, Williams will help in mentoring and supporting women leading these startups. The tennis legend announced an open call at the Cannes Lions International Festival of Creativity, urging women-led businesses around the world to apply for a seat as one of Reckitt Catalyst’s entrepreneurs by visiting Reckitt.com.
“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. “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.”
In partnership with Yunus Social Innovation, Acumen America, and Health Innovation Exchange (HIEX), Reckitt in its release said it is “scaling its existing commitment to support up to 200 founders over the next five years, in more than 15 countries across Africa, Asia and Latin America.”
Williams is undoubtedly one of the greatest tennis players to grace the court. She combined her tennis career with investing in business. In 2014, she launched Serena Ventures — a venture capital fund — after having had more than ten years of experience in investing.
Through Serena Ventures, she has invested in multiple companies, and some have even reached Unicorn status. Serena Ventures targets women and underrepresented founders, as per its LinkedIn profile.
She said she was motivated to go into venture funding because of the struggles blacks and women go through to get funding. Due to the targeted nature of her funding, her company’s portfolio comprises 79% underrepresented founders, 54% women founders, 47% Black founders, and 11% Latino founders.
So far, she has invested in over 80 companies, including Impossible Foods and MasterClass, an edutech platform which was valued at $2.75 billion in 2021. She also estimates that 14 of her portfolio companies have gone on to reach unicorn status.
Serena Williams joins Reckitt as first-ever entrepreneur-in-residence to support health and hygiene startups often overlooked
