Serena Williams took to Twitter on Thursday to announce her latest investment in mental health startup Wondermind, co-founded by musician and actress Selena Gomez, through her venture capital firm Serena Ventures.
According to Bloomberg, Williams’ Serena Ventures helped the company raise $5 million at a $100 million valuation. Speaking about the collaboration, Williams said she was “so proud” to have invested in the business.
“So proud to be an investor in @letswondermind – changing the way we treat mental health,” Williams wrote on Twitter.
Wondermind, which focuses on encouraging discussions about mental health and promoting routines for a healthy mind, said the funding would be used to “accelerate” the company’s ecosystem across all platforms.
“This funding will be used to accelerate the building of Wondermind’s mental fitness ecosystem across all platforms – with the ultimate goal of making mental fitness exciting and accessible to everyone,” a company statement read.
Serena Ventures was joined by Lightspeed Venture Partners and Sequoia Capital in the first round of $5 million.
“I made a few bad investments early on, but that’s when I realized the importance of due diligence” – Serena Williams
Serena Williams has spoken about her interest in venture capital on several occasions, and she reiterated being on a learning curve in the business during a recent interview with Bloomberg.
Revealing that she started out with a few “bad investments”, Williams said she eventually learned the importance of due diligence. The American added that for her it was really important to invest in and support businesses run by women and people of color.
“I was attracted to (investments) at an early stage. I made some bad investments early on, but that’s when I learned the importance of due diligence,” he said. said Williams in the interview with Bloomberg. “I naturally fell into seed investing because of how you have to help the founders, how you have to help the team.”
“The only way to change that is with people like me,” she continued. “Black women, writing the checks. As attracts Iike. Men like to write checks to other men. Women like to write checks for other women. Right now, our portfolio has about 68% of women or people of color, which is really unknown The world of VC At some point it’s going to go down You have to fight for what you want.