By highlighting this behaviour and offering support, we are drawing awareness to the systemic issues at hand and showing people in the industry how it can be done. When one thinks of the name Serena Williams, the majority of thoughts flow in the direction of her impeccable tennis career. pos: 'right_rail_1', The FDA nears final approval on vaccines for young kids, women feel unprepared for menopause, and Zola adds a co-CEO. Alison: I took my first call with Serena from a bridal store while trying on bridesmaid dresses for a friends wedding. William states, Its fun to get in there. They are finding new sectors to focus on, such as the rise of online education. Amongst the portfolio of more than 50 companies, 60% of the founders are women or people of color. The stats about the fund received by black women entrepreneurs in the recent years highlights the problem. Either Stillman, Williams, or another member of the firm's six-person team will schedule an introductory call with the founder. She is so much more than just the worlds best tennis player. And also, its very authentic. The ability to write bigger checks and the ability to lead seed rounds really enables us to deliver on our mission and to unlock value for our investors and open doors for founders, Williams says. Abena Anim-Somuah: Tell us how you met Serena and what drew you to work with her? During this time, I got along really well with Carmelos business manager, Stuart Goldfarb, who saw that I understood how to work with sports talent and also had a deep understanding of the investment world, a rare combination of two very different skills sets. Also, invest in a few good people and dont try to please everyone. Venture is one of the most inequitable places to work. Its time we all play on the same court. Serena Ventures partner Alison Rapaport Stillman thinks VCs need to get out of their comfort zones. WebAlison J. Rapaport, CFA, is a Partner at Serena Ventures, overseeing portfolio management and sourcing new investments. Veronica has dedicated her career to supporting founders who work to democratize access to a better life, and her unique perspective is informed by 10 years of experience as a strategy consultant, founder, and investor. When it comes to our team, thats what everyone is on board for and theyre really excited to help founders have an opportunity that they probably wouldnt have had before., The firms approach is to build a more inclusive future by investing in overlooked, underestimated, and fledgling markets.. He then introduced me to Chris Lyons at Andreessen Horowitzs Cultural Leadership Fund, who encouraged me to lean into my skill set to support world-class athletes who would like to get into venture but dont have the investment background. We made our founders feel like we are partners who can help them grow, she said. We also want to see a founder who is self-aware. They had one problem: their brand didnt reflect who they were as a firm- or as people. Besides, they have a pet dog named Bud, who has also been featured in most of her uploads. Serena Ventures, the venture capital fund backed and founded in 2017 by Serena Williams. It helps that Serena Ventures has a diverse team led by women. Sadly this is why I wanted to build a track record, because, quite frankly I knew that above other people I needed to have something that could speak for itself, she says. When she is not working on the Business Development team at Ada Support, she is avidly baking and elevating Black culinary creatives on Instagram , listening to a podcast, or digging into a good book. WebVisit Alison Rapaport Stillman and Stillman Stillmans Baby Registry on Babylist. The two cherished couple, beaming happy in the early morning, enjoyed an excellent breakfast as she held a Veuve Clicquot champagne bottle. Serena Ventures Serena Williams launched Serena Ventures in 2014 and has invested in over 60 companies. Williams first started investing a little over nine years ago because of what she calls a natural draw to technology and a desire to be involved with all of the startups she was seeing pop up in the space. Veronica is a proud Alumna of Howard University and holds an MBA from the Kellogg School of Management. She earned Bachelor of Science degree in Finance & Operations from the campus. WebDiscover any aliases as well as possible relatives and associates of Alison Rapaport Stillman. cnx({ playerId: '783ef340-6832-4112-80cd-0e5f57b51915' Its been proven that the more diverse your team, the better you do, and companies are now starting to realize that, she says. Another way Alison recommends sourcing diverse deal flow is by not requiring a warm intro. We invest in diverse teams because we stand by the belief that diverse leadership and diverse thoughts have the best returns, both financially and socially. I recently had to question a founder at a company because they were building a product for women and did not have any female or non-white representation at the executive level. For aspiring founders, Williams' retirement opens a window of opportunity. Zoe is the best decision that we have made in quarantine. Alison Rapaport is a Partner at Serena Ventures, an early-stage venture capital fund founded by tennis superstar Serena Williams in 2014. Alison Stillman is a Managing Partner at Serena Ventures based in Sugar Land, Texas. General Partner Alison Rapaport Stillman, who majored in finance and operations at Wharton as an undergrad, has said people have finally realized that inequity exists in all aspects of life. Most notably, she helped launch the African Leadership University, named one of Africas most innovative companies in 2016 by Fast Company, and founded Black Women in Venture Capital, a community of over 200 Black women in venture capital who envision an equitable VC system. It is important to us that the founder has a personal connection to the problem and is uniquely positioned to solve it. She works alongside the tennis superstar Serena Williams in overseeing the business and sourcing new investments. Web2,862 Followers, 1,028 Following, 315 Posts - See Instagram photos and videos from Ali Jo Rapaport Stillman (@ali_jo_rap_stillman) Stillman said it's especially important for founders to be self-aware enough to know when they need to hire employees. 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. Alison Rapaport: I never thought Id pursue a career in venture. Economic Equity & Racial Justice Townhall Series, Elevate Black Podcast sponsored by Fifth Third Bank, 100 Founders of Change by American Express, Chasing Success Podcast by JP Morgan Chase, Black Business Month Sponsored by Nationwide, 2022 Registry Of Corporate Directors Listing, 2021 BE Registry Of Corporate Directors Listing, finding companies that solve bigger consumer problems. Investing in people who look like you eventually leads to systemic exclusion. url: 'serena,williams,venture,capital,firm,raises,111,million', But a number of news outlets also noted her involvement in early-stage investing and the key role played by Serena Ventures General Partner Alison Rapaport Stillman (MBA 2018), who joined forces with Williams in 2018. I dont jump off buildings. Managing partner Serena Williams and general partner Alison Rapaport Stillman have backed about 20 companies with Serena Ventures' first fund. Yet, because of the areas they want to serve, Alison says they still naturally fund women, Black and Latinx founders. That was about four years ago, when Williams hired Alison Rapaport Stillman as general partner and they began building a teamwhich just happens to be all women. Sign up for notifications from Insider! To raise a child it takes a village. And she says, No, its true. And I literally couldnt wrap my mind around the fact that 98 percent of all of this money were talking about billions of dollars goes to one type of individual.. url: 'serena,williams,venture,capital,firm,raises,111,million', Onstage at an event, Ms. Seidman-Becker said less than 2 percent of venture money went to women. cat: 'entrepreneurship', Plenty of its portfolio companies come from Silicon Valley, but two of its most recent investments came from North Carolina and Wisconsin. I was talking about investments. Ms. Williamss husband is the Reddit co-founder Alexis Ohanian. Just to be clear, you dont have to be a person of color or a woman to be in our fund, Williams says. SERENA VENTURES. The latest Tweets from Alison Stillman (@alison_stillman). They have scheduled their marriage on June 10, 2023. Dana: Fill in the blank: I wouldnt get through quarantine without. Serena Ventures investments include MasterClass, Andela, Mayvenn, Tonal and Noom, to name a few. This isnt new for me, she says. We dont fit the mold of venture.. Women of Power TECH, PODCASTS Stillman told Insider a core part of the mission of Serena Ventures was to back founders with "incredible potential" who might have been overlooked by other investors. Alison J. Rapaport, CFA, is a Partner at Serena Ventures, overseeing portfolio management and sourcing new investments. Upon learning that just two percent of funding goes to female founders, Williams made a strategic commitment to diversity and inclusion; today, 78 percent of founders backed by Serena Ventures are women or people of color. We think its important to look beyond where traditional venture is focusing because there are a ton of opportunities that theyre not funding products and services for, said Alison. Alison graduated magna cum laude from the University of Serena Ventures has made investments in over 30 companies across multiple industries, including Coinbase, Daily Harvest, and Billie to name a few. Moreover, Rapaport is also a former golf writer at Sports Illustrated and a staff writer for Golf Digest. I knew that I wanted to do a fund, but I worked backward, by using my own capital and then creating a track record and getting to know everyone.. One recent investment they made is Fiveable, a woman-led Milwaukie edtech startup helping students prepare for AP exams by offering free online resources. We had the pleasure of hearing from Alison on advice she would give to her younger self, her path to VC, and how she has stayed motivated during this time. Have a great Thursday. In early August, the 23-time Grand Slam champion wrote in an essay for Vogue that she would be retiring from tennis. She has brought so much joy to our family and is a living reminder that there is a world beyond my screen. Dana: What trends are you excited to see in the world of consumer? Dan Rapaport sister is named Alison Rapaport Stillman. Thats just the way of the land. Emma posted their first picture online on Valentine's in 2020. I was someone who lived my life to be on a conveyor belt. BLACK ENTERPRISE is the premier business, investing, and wealth-building resource for African Americans. Always ready for a new challenge, she started out by asking a lot of questions, then investing in a fund, and then becoming an angel investor. Sculptwear is an alternative to traditional shapewear that gives a smooth and tucked-in look under clothing. Serena Ventures was about to announce a historic $111 million raise that would change the world. "The founder can't be doing everything," Stillman said. According to Zola, Dan and his future wife Emma have set their wedding date for June 10, 2023, in the scenic landscape of Chicago. The firm, which announced an $111 million fund in March, already included a portfolio of 60 firms from Williams earliest investment activity; she wrote one of the first checks for Masterclass, and was also an early backer of Dan and Emma enjoying photogenic landscape in Snowmass Village, Colorado, July 2021 ( Source : instagram ). Managing partner Serena Williams and general partner Alison Rapaport Stillman have backed about 20 companies with Serena Ventures' first fund. Kyra is the Operations Manager for Serena Ventures where she oversees the day-to-day operations for the team and helps manage LPs, Portfolio Founders, and prospective investment companies.
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