Photo credits: Reuters / Benoit Tessier
World-renowned professional tennis champion Venus Williams (pictured) is one of the major investors who is pumping millions of dollars into a company called Ellevest. This company is a digital financing platform, which is squarely focused on helping women, in particular, with their entrepreneurial goals and retirement objectives.
Ellevest’s co-founder and CEO is a woman named Sallie Krawcheck. Krawcheck is one of the most revered women on Wall Street. She has been the head of operations at firms like Merrill Lynch, Smith Barney and Citi Private. Krawcheck has also gotten critical acclaim from big financial publications like Fortune Magazine and Fast Company.
Ellevest is based in New York City, New York. The investment principles held and practiced by the company break from the traditional norms that are utilized by most of the firms, which operate in the white male-dominated investment advisory industry.
Krawcheck’s main vision was to help women with investment goals (such as entrepreneurship and retirement funding) gain leverage in a system that is designed for them and by them. There are no minimum investing requirements needed to get started and the investment process at Ellevest is not overly complicated.
One of the things Krawcheck wants to do with her company is close the gender gap between men and women that exists in personal finance. Williams partnered with Krawcheck on Ellevest because she believes that women deserve to be financially empowered to make their own decisions about business and money.
When asked by YouTube channel producers at Ellevest why she invested in the company, Williams gave a response, which partially reads as follows:
“I invested in Ellevest because I believe in women, and I believe in our potential, and I believe that it’s time that we change the game. And also, I love being a part of something that’s new and innovative and that’s how I’ve tried to be my whole career was to create my own path. And that path hopefully helped other people to create their own. And also, because I believe in Sallie and I wanted to be one of the women that supports.”
You can watch Williams’ entire YouTube interview here.