Press Release March 11, 2022

Goodwin Women Guide Serena Williams Venture Fund in $111 Million Inaugural Capital Raise

A diverse, all-female team from Goodwin’s ESG & Impact group advised Serena Ventures on the formation of its inaugural fund, which closed with $111 million in commitments. The fund invests in founders who solve everyday problems through unconventional thinking and diverse points of view, with the goal of building a more inclusive economy and equitable future.

Serena Ventures is led by world-class athlete, businesswoman, and philanthropist Serena Williams, and Alison Rapaport Stillman, who has previously worked at J.P. Morgan, Wasserman, and Melo7Tech Partners.

In an ecosystem where women founders receive less than 2% of venture funding and Black founders of all genders receive less than 1.2%, Serena Ventures breaks the mold. Among the firm’s current portfolio, 76% of the founders come from historically underrepresented backgrounds.

Through pre-seed to Series A investments, Serena Ventures powers early-stage startups focused on improving lives through innovative products and services. The fund builds off of momentum gained by Williams’ personal track record of nine years of angel investing that yielded 13 unicorns and six exits. Investments include fintech disruptors Propel and Cointracker, edtech giant Masterclass, and consumer product innovators Billie and Daily Harvest.

The Goodwin team was led by Karen Chao, Debasha Cox, and Patricia Burris (Private Investment Funds), and Romina Weiss and Nicole Spiretti (Tax).

For more details, read Serena Ventures’ announcement.