Move ACE. Serena Williams, a 23-time Grand Slam-Singles champion and four-time Olympic gold medalist, doubles their next chapter, in which the types of founders, who are often overlooked by traditional risk capital: women, people with color and entrepreneurs who solve critical challenges in under-care markets.
Last week the tennis legend and the investor was appointed the first entrepreneur in Reckitt, the British consumer health giant behind brands such as Lysol, Durex and Enfamam. In this new role, Williams will help to look after and scale startups that concentrate on hygiene, mothers care and health authorization – sectors that are chronically underfunded despite the increasing demand. Get startups guided by women Less than 3% of global venture financing Despite the investigations that show that they surpass companies guided by men.
“Fat -headed, innovative ideas can solve some of the most urgent challenges in the world in the world if they have thrived the right support for,” said Williams at Cannes Lions. “This includes mentoring, financing and strong belief.”
Their appointment coincides with the introduction of Reckitt Catalyst, an initiative of £ 10 million, which supports up to 200 underrepresented founders by 2030. The aim is to improve access to health and hygiene for five million people through scalable, locally guided solutions in Africa, Asia and Latin.
For Williams, the partnership is both tactically and deeply oriented. “We found that we had the same thesis (namely) that if you invest in women when you invest in overlooked markets that are there,” she said. “It is not a charity. It is clever business.”
Since his resignation of Tennis, Williams has invested one of the most successful venture investment track records among athletes. In 2014 she started Serena Ventures with the focus on various founders and collected an opening fund of 111 million US dollars. At that time she entered a risk system in which only 5% of VCS were black and an even smaller proportion of black women were. Before Williams officially started the fund, she said that she had already secured about six unicorns. Today she says that her portfolio includes more than $ 14 billion and several decokes.
“I wanted to prove to myself that I can find the companies and that I had the connections to invest,” she said. “Now we scale.”
Serena Ventures has primarily invested in early stages companies, fintech and consumer technology companies. Due to her new partnership with Reckitt, Williams now doubles sectors that are overlooked by Silicon Valley. “Hygiene is routinely overlooked in the company,” she said. “It is not noticeable. But it is fundamental, especially for women, mothers and children. These are essential markets that affect real effects and real returns.”
Your role will combine mentoring with access to a network. Williams will advise catalyst entrepreneurs and help them to expand their reach and credibility through strategic introductions. “At the end of the day, venture is about relationships,” she said. “A 30-minute conversation can unlock new partnerships or investment opportunities. I would like to offer access to the founders who are not part of the usual circuits.”
She has already started combining Catalyst founders with companies in her existing portfolio. “If they give women the opportunity, we often work twice as hard because we were underestimated from the start,” she said, adding: “This is not about taking male founders away. It is about expanding the cake.”
Ruth umoh
ruth.umoh@fortune.com
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PayPal announced the appointment of Deirdre Stanley to the company’s board of directors. Most recently, it was Executive Vice President and General Counsel of the Estée Lauder Companies.
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Farewell words
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