Serena Williams Backs $340 Million Women’s Basketball League Unrivaled

When Serena Williams announced her retirement from professional tennis in 2022, skeptics wondered how the 23-time Grand Slam champion would channel her relentless energy, competitive edge, and business acumen. The answer is becoming clear: through venture capital and strategic bets on underinvested markets.

Her latest move? Investing in Unrivaled, a two-year-old 3-on-3 women’s basketball league now valued at $340 million following a high-profile Series B round led by Bessemer Venture Partners. Serena Ventures, her early-stage VC firm, joined the round alongside soccer star Alex Morgan’s Trybe Ventures, tennis icon Billie Jean King, and other influential investors.

The deal underscores a fast-maturing thesis in the sports investment world: women’s sports are not just a social cause—they’re an asset class with exponential upside.

Unrivaled’s Market Play: A Different Court, A Bigger Vision

Founded as an offseason alternative for WNBA players—who often play overseas to supplement their income—Unrivaled promises the highest average salary in women’s professional sports history. By offering elite players both financial incentives and brand exposure in the U.S., the league has carved out a niche that aligns with shifting consumer demand.

Its second season tips off in January 2026, but the groundwork is being laid now for growth. The strategy hinges on three converging trends:

• Media economics: Broadcast rights for women’s sports are growing at double-digit rates, with major networks and streaming platforms scrambling for live content.
• Sponsorship momentum: Corporates from Nike to Deloitte are reallocating marketing budgets to women’s sports to capture diverse, socially engaged audiences.
• Demographic alignment: Gen Z and millennial consumers are increasingly aligning spending power with values like gender equity, inclusivity, and cultural relevance.

For CEOs, investors, and policymakers, the signal is clear: women’s sports are moving from philanthropic side projects to high-ROI investment vehicles.

Why Serena Williams Matters in This Equation

Serena Williams isn’t just a celebrity investor lending her name. With a net worth estimated at $350 million (CEOWORLD Magazine) and a portfolio of over 60 companies through Serena Ventures, she brings credibility, networks, and visibility.

Since founding her firm in 2017, Williams has focused on early-stage companies where traditional VC money has been scarce. Nearly 80% of Serena Ventures’ investments are in startups led by women or people of color—a deliberate strategy that taps into overlooked value.

As Williams told the New York Times in 2024, early-stage investing offers both “thrill and peril.” But it also offers the chance to reshape industries. By backing Unrivaled, Williams is not just funding a league; she’s positioning herself as a leading figure in the redefinition of sports economics.

Investors Are Waking Up: From Niche to Mainstream

Women’s sports have long suffered from structural underfunding. Until recently, the investment case was framed as an “equity story” rather than a “growth story.” That narrative is shifting quickly.

• According to Deloitte, the global market for women’s sports is projected to surpass $1 billion in revenue by 2026, with broadcast rights alone expected to cross $500 million.
• Sponsorships in women’s sports are growing at twice the rate of men’s leagues, driven by brand repositioning strategies.
• Venture-backed women’s leagues—from soccer to basketball—are reporting surges in fan engagement, digital content consumption, and ticket sales.

For private equity firms, hedge funds, and sovereign wealth investors, the potential is straightforward: get in early, ride the growth curve, and capture disproportionate returns before valuations skyrocket.

The Billionaire and Policy Angle

High-net-worth families and policy leaders are also taking note. Investments in women’s leagues check multiple boxes:

• Financial: They offer long-term equity appreciation and media-driven monetization opportunities.
• Social capital: Backing women’s sports resonates with ESG priorities, aligning with diversity and equity commitments.
• Policy relevance: Governments eager to position cities as global sports hubs see women’s leagues as strategic assets for tourism, branding, and national pride.

This duality—returns plus reputational upside—makes women’s sports uniquely compelling in today’s investment climate.

A New Era for Alternative Sports Assets

The rise of Unrivaled mirrors broader shifts in alternative asset classes. Just as investors once dismissed esports or pickleball before valuations spiked, women’s basketball is at a similar inflection point.

Williams and her co-investors are betting that Unrivaled won’t simply complement the WNBA but will redefine the offseason economy for elite athletes. By focusing on a 3-on-3 format—faster-paced, TV-friendly, and cost-efficient to stage—the league is engineered for modern media consumption.

For investors, this presents a rare opportunity: to back a category creator with both cultural legitimacy and scalable economics.

Executive Takeaways: Why This Matters Now

• Timing the S-curve: Women’s sports are crossing from niche to mainstream. Early movers will capture asymmetric value.
• Brand equity alignment: Associating with women’s leagues supports ESG goals while accessing loyal, high-growth fan bases.
• Diversification: Alternative sports assets provide non-correlated returns amid volatility in traditional asset classes.
• Cultural capital: Investments here offer not just ROI, but relevance in a marketplace where values increasingly drive spending.

The Bottom Line

Serena Williams’ pivot from global tennis champion to venture capitalist betting on women’s basketball reflects more than personal reinvention—it signals a larger market transformation.

For the ultra-wealthy, institutional investors, and policymakers, the message is unmistakable: ignore women’s sports at your peril. The combination of rising valuations, shifting consumer demand, and cultural momentum suggests that today’s $340 million valuation for Unrivaled may look like a bargain in hindsight.

Just as Williams once dominated the tennis court, she is now staking her place on a new playing field: the future of sports investment.

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