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Serena Williams is paying it forward and investing in women and people of color-led businesses.

While chatting with fans on TikTok March 8, the tennis legend revealed that she has been heavily investing in emerging companies led by women and entrepreneurs from diverse backgrounds throughout her tennis career. She also discussed the catalyst that prompted her to establish her venture capital firm, Serena Ventures.

In her “Get Ready With Me” style video published Friday, Serena divulged a shocking revelation born from her extensive 14-year journey in investing across a spectrum of seed-level startups to billion-dollar enterprises. The 42-year-old said she was shocked when she learned of the glaring disparity in VC funding directed towards businesses led by women.

“Somewhere down the line, I learned that less than 2% of all VC money went to women. And when I first heard that, I actually thought that it was a misquote. I …