According to digitaldivided’s ProjectDiane report, less than 1 percent of Black women founders get VC funding. To help change this number, tennis superstar Serena Williams is partnering with the Austin-based startup Bumble Fund to help invest in more companies that are founded by women of color.
Black Enterprise reports that in addition to investing, Williams will also serve as a global ambassador to the company.
Bumble’s CEO and founder Whitney Wolfe Herd started the fund to help end the bias that women of color face when it comes to receiving venture capital funding. In a statement, she said that “partnering with Serena Williams has been a dream of mine since we launched Bumble as she is one of the most inspiring women in history and a shining example of someone making the first move in all facets of her life.” She added that Williams is the “epitome of strength, integrity, kindness, empowerment and everything Bumble stands for.”
Bumble and Williams have also partnered with Alice, which is an AI-powered platform, to help provide women of color entrepreneurs with a community, access to experts, how-to-guides for growing their business and more.
“I’ve learned how impactful one woman’s voice can be when given a platform to speak and be heard,” Williams said in a statement.” I am passionate about building on this progress and opening doors for women of all backgrounds, especially women of color, to share their message and trust in their potential to accomplish great things. By joining forces with the Bumble Fund, we will continue amplifying female entrepreneurs and creating a place for them to personally and professionally champion their growth.”
Currently, Williams is seen in Bumble’s latest commercial, which showcases the app’s many features that encourage women to thrive in their work life and love life.
To find out more about how you can submit your information for potential investing from the Bumble, Williams and Alice partnership click here.