Tennis champion Serena Williams has called upon entrepreneur women of color to step up and receive investment funds they need to expand their venture. In partnership with Bumble, a dating app that launched a venture capital fund to support business founded by women of color in 2018.
She has taken an active role in helping businesses founded by minority women have access to finance through the Bumble Fund. Serena serves as a global adviser for Bumbe, which also features social and business networking components that encourage women to “make the first move.”
Black women who contribute to the most educated and most entrepreneurial population in the United States only received 0.2 percent of all venture funding, according to statistics. Their access to financial support is stringent and very limited.
Founder and CEO of Bumble Fund Whitney Wolfe Herd noted that this avenue wants to propel more business ventures by women to success adding that having Serena Williams onboard will help push the agenda.
“In teaming up with Williams for the Bumble Fund, we want women everywhere to know that we are here, we are listening and we believe in you. We are giving women more keys to success while encouraging them to push their ideas forward and keep thinking big when it comes to their business ventures,” she said to Forbes.“
Though Bumble fund, the investment objectives will be to focus only early-stage investments, primarily in businesses founded and led by women of color and those from underrepresented groups, and provide successful applicants an average investment of $25,000 and a range of from $5,000 to $250,000.
Serena Williams took to her Instagram page to encourage more women to apply for bumble funds, to grow their business ventures.
” Things I won’t stop talking about: investing in women. Now through March 27th, @BumbleFund applicants will get an opportunity to pitch their idea to me and @Whitney. We’re working together to build a bigger, more equitable table. If you’re a woman entrepreneur of color, apply through the app,” she said on an Instagram post.
Apply for the Bumble Fund on Alice