Serena Williams Invests $1M In HBCU Alum's Startup

Serena Williams, one of the best tennis players of all time, recently raised more than $100 million to start an investment fund. From an exclusive Boardroom.tv report, Williams’ fund, Serena Ventures, chose its first startup investment following a pitch competition. 

The competition was part of the Invesco Ltd. IVZ Invesco QQQ Trust Series 1 QQQ QQQ Legacy Pitch competition. All startups in the competition were founded by HBCU (Historically Black Colleges & Universities) students or alumni. 

There were three finalists in the competition: TracFlo, Gaba and Blacksteel. 

TracFlo is a technology platform to track and manage construction projects, founded by Khalid David, a Morehouse College graduate. 

Gaba is a personal-learning app that focuses on mentorship and growth. Gaba was founded by Candice Blacknall, a Morehouse School of Medicine grad. 

Blacksteel is a credit card company that allows customers to apply for credit cards using income and cash flow instead of a credit score. Brandon Stokes, a Tennesee State University grad, founded the company. 

Ultimately, Williams and other members of her fund chose TracFlo as the winner of the competition. This gives TracFlo a $1 million investment from Serena Ventures.