Serena Williams might be more known for her tennis prowess but she appears to also have good business sense.
Williams recently revealed on Instagram how she launched her investment company Serena Ventures in 2014. According to her post, the company has been steadily and silently investing in more than 30 companies. One company that the tennis star has sunk money in is Coinbase, one of the biggest cryptocurrency exchanges.
Serena Ventures’ official website stated that the company’s portfolio has a market cap of over $12 billion. It also showed that it holds a 60% rating in terms of the diversity of the companies it has invested in. The site also acknowledged that the company targets early-stage companies pushes for collaboration among other portfolio companies and is looking to expand its partnership ventures.
Williams and her sister Venus made waves in the tennis world for their formidable playing prowess. Serena is won four Olympic gold medals and was ranked world number one in singles by the Women’s Tennis Association on eight distinct instances. One business news company estimated last year Williams’ estimated net worth to be around $180 million.
Williams is just one of numerous investors looking into blockchain and cryptocurrency startups. News agency Reuters pegged that venture capital funding for these industries will probably set an all-time high this year.
An IDC Government Insights report lends credence to this. The agency claims the US federal government is set to raise its own blockchain spending to $123.5 million by the time 2022 rolls around. That’s over a 1,000 percent increase when compared to 2017’s $10.7 million spendings.