Serena Williams says founders now demand more from VC investors

Once upon a time, a cheque was enough to get you into a startup’s cap table. Now? Not so fast. Founders, it seems, have realised they don’t just need cash; they need capital with brains attached.

Serena Williams says startups now demand smarter capital

Serena Williams, whose post-tennis career includes running a $111 million venture fund, has noticed the shift first-hand. At the NYC Summit this week, she put it bluntly: “Founders are getting more choosy.” It's clear that there's not enough to flash money and investors need to prove they bring more to the table than a wire transfer.

This shift has less to do with founder ego and more to do with market reality. Venture firms are raising smaller funds, big acquirers aren’t shopping the way they used to, and most of the money that is flowing is stampeding towards artificial intelligence. If you’re building anything outside the AI gold rush, you’d better hope your investor can open doors, broker partnerships, or at least pick up the phone when you call.

Serena Ventures itself is trimming its sails. General partner Beth Ferreira admitted the firm is cutting fewer checks, focusing on early bets, and cashing out when valuations get frothy. “Not all money is good money,” Williams said, in what could double as the slogan for 2025’s venture market. The takeaway? Startups are no longer wooed by any investor with a wallet; they’re interrogating whether that investor’s network and reputation can move the needle.

And yes, the scrutiny runs both ways. Investors like Serena’s firm aren’t writing cheques for every shiny deck that slides across their desk. They’re probing harder: does this startup actually solve a problem, or is it just another glossy pitch wrapped in buzzwords?

It’s a sobering reset. Cash is scarce, competition is brutal, and AI is hogging the spotlight. Yet it’s arguably a healthier ecosystem. When both sides pause to ask, “Do we actually need each other?”—it weeds out the vanity rounds and makes partnerships sharper.

For more updates, join/follow our WhatsApp, Telegram and YouTube channels.