Tennis Star Serena Williams Reveals She Invested in Coinbase Through Her Investment Fund
Serena Williams, one of the top tennis stars in the world, recently revealed that she launched her Serena Ventures back in 2014 and invested in several companies, among them a leading cryptocurrency exchange.
In an Instagram post published on April 17, the U.S. tennis star told her fans that Serena Ventures invested more than 30 companies, including in major U.S. crypto exchange and trading platform Coinbase.
According to her firm’s official website, the venture’s portfolio has a market cap of more than $12 billion, with the invested firms boasting a founders’ diversity index of 60 percent.
The investment fund’s main focus is to help early-stage companies, support alliances between various portfolio firms as well as drive expansion efforts for companies that are after strong collaborations.
Serena Ventures has invested in companies within the lucrative fashion industry, food and beverages, and a number of e-commerce startups among others.
Of companies in these sectors, and apart from Coinbase, the fund has invested in the likes of Little Spoon, The Wing, Masterclass, Mayven, Neighborhood Goods, Lola and Billie, among many other companies.
In early 2019, Serena Ventures reportedly participated in the Series D funding round for startup Andela, helping to raise over $100 million and as a result saw Andela’s total venture funding hit $180 million.
Alison Rapaport, who previously worked at U.S. banking giant JP Morgan as an asset manager, is listed as a co-owner in the investment.
Per Wikipedia, Serena Jameka Williams is a four-time Olympic gold medalist and dominated women’s tennis to rank as World No.1 eight times. In August 2018, The Street revealed Serena’s estimated worth at a net of nearly $180 million.
Investing in crypto and the nascent blockchain industry is something that is gathering momentum, especially as big-money institutional investors warm up to the sector.
Major news site Reuters recently released a report in which the main takeaway was that big U.S.-based corporate and venture capital investments were shifting attention to crypto and blockchain-based startups. It noted that that trend would likely hit a new record in within the year.
Notably, IDC Government Insights recently published a report in claiming that blockchain spending within the U.S. was likely to spike in 2019 through to 2022.
According to the publication, the U.S. federal government has plans to increase its spending within the blockchain space to $123.5 million, up from the $10.7 million used in 2017.
Disclaimer: This is not investment advice. Cryptocurrencies are highly volatile assets and are very risky investments. Do your research and consult an investment professional before investing. Never invest more than you can afford to lose. Never borrow money to invest in cryptocurrencies.