At the recently held American Business Forum, Serena Williams sat comfortably, smiling, reflective, and unmistakably in command of a different kind of stage. Long before she became one of the most decorated athletes in history, Serena had already been shaping a parallel identity: Serena the entrepreneur, the strategist, the investor. From negotiating with Puma as a teenager to taking investor calls on her way to Wimbledon center court, her business journey began as early as her tennis fame.
“I’ve always thought of myself as a businesswoman,” she said. “Sport was a business. Winning was just one part of it. Being an entrepreneur was another.”
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Serena grew up hearing what many athletes of her generation were told: focus on your sport and nothing else. But she rejected that. Her father instilled early the importance of having a plan beyond tennis, what he called “plan B.” Whether it was fashion, design, or investing, she always knew her life would extend beyond the baseline. “Today, the modern athlete is expected to do more. Back then, doing more was frowned upon. I pushed that envelope early.”
When she announced that she was stepping away from professional tennis, Serena didn’t experience a clean, sudden break. It was emotional and uncertain. Tennis had been her entire life since childhood. “You grow up with a racket in your hand. One day it’s just done,” she reflected. “You expect it, but you never really expect it.” Still, she didn’t walk into a void. For years before retiring, Serena had quietly built an investment practice, assembled a strong team, and studied technology and founders, often spending long hours in Silicon Valley simply learning. “My dad always told me not to finish one thing before starting the next. I wanted a softer landing. I didn’t want to start from zero.”
Entering venture capital more than a decade ago came with raised eyebrows. “There were people who rolled their eyes, like, what is an athlete doing here?” Serena admitted. “I didn’t know what a seed round was. I had no idea. But I was willing to learn.” She immersed herself in the ecosystem, asking questions, spending time with CEOs, and absorbing the language of tech. “I love venture because every day feels like college,” she said. “You’re learning about products and ideas that don’t exist yet.” Her curiosity turned into impact. Companies implemented some of her early suggestions including one major brand that still uses her algorithm ideas today. She laughs that she never got paid for it, but “takes silent credit.”
When she formally launched Serena Ventures, her mission was bold and clear: invest in the people the venture ecosystem routinely overlooks, the vast majority left out of funding. “That group is a trillion-dollar market, just like the small percentage VC focuses on,” she said. “In fact, it might be even bigger.” Her personal connection to underserved communities makes the mission deeply meaningful. “I was part of that percentage growing up. And the gap between the haves and have-nots is widening.”
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Serena Ventures has now invested in more than eighty companies, several of which have become billion-dollar unicorns, a rare feat in any portfolio. But she refuses to call it magic. “There’s no secret sauce. It’s gut, experience, and asking founders the right questions. You’re only as good as your founder.” She focuses on value, helping founders think deeper about their markets, processes, and opportunities. Founders today are more selective, especially in AI, where good products attract swarms of investors. “That’s why we bring more than a name. We bring network, expertise, and a team that operates like an institution. We’re here for the long term.”
Serena represents a new generation of athletes who are not waiting until after retirement to build their business empires. She sees this evolution as necessary. “For athletes now, if you’re only doing your sport, that’s what’s frowned upon,” she said. “You have to think bigger.” And she intends to keep pushing those boundaries, just as she did on the court.
