When tennis legend Serena Williams and Reddit co-founder Alexis Ohanyan first met at a coffee shop in Italy in 2015, the conversation quickly turned to business.
Today, the duo is married – with daughter Alexis Olympia Ohanyan Jr. – both have built a significant reputation as start-up investors. But Williams says they are trying to keep their business ventures separate.
“One of our first conversations was investing, because I’ve been investing for more than nine years,” Williams told CNBC’s Squawk Box on Tuesday. “We are trying to keep the business separate. There are obviously things that come up when we talk about home business, but we try to keep our business as separate as possible. “
However, Williams said it’s good to have someone like Ohanyan – who started Reddit in 2006 with co-founder Steve Huffman and then sold it to Condé Nast for $ 10 million 16 months later – as a resource and soundboard.
On Tuesday, Williams announced a $ 111 million fundraiser for his early-stage new investment firm, Serena Ventures, saying it plans to invest in founders with different perspectives. According to the company’s website, Serena Ventures has invested in 61 companies since its launch in 2014, including home fitness company Tonal, cryptocurrency resource CoinTracker and Impossible Foods.
“The venture capital ecosystem really needs an inclusive player and a platform player,” Williams told CNBC.
Last year, Ohanyan launched his own venture capital fund, Seven Seven Six, which has invested in 39 companies, according to the fund’s website, including the Angel City Football Club, a Los Angeles-based team to expand the National Women’s Football League. Ohanyan has also invested in Impossible Foods, apart from Williams.
Ohanyan and Williams are also in the mood for cryptocurrencies. Williams told CNBC that investing in cryptocurrencies was pointless for her and she wished she hadn’t joined earlier. “You really have to think outside the box when you’re busy [venture capital],” she said.
Experts warn people to learn and understand the risks before investing in cryptocurrencies, instead of just buying ads. Many believe that cryptocurrencies are an unstable and speculative bet and advise people to invest only as much as they can afford to lose.
Last year, Ohanyan also told CNBC Make It that Williams helped him find a stronger work-life balance after they got married. “She said, ‘You work harder than me,'” Ohanyan said. “In the beginning, I was so flattered. I said to myself, “Wow, thank you very much.”
But Williams told him it was “not a compliment”, explaining that overload “is not really the path to sustainable greatness”. People need time to recover and regroup, “otherwise you can’t be the best for a long time,” she told him.
Since then, Ohanyan said, he has been very disciplined with his time, giving priority to family time in particular.
“We can’t do everything possible unless we have these moments to reset,” he said.
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