Venus Williams is all about supporting women entrepreneurs. She has a new show coming out that gives women entrepreneurs a chance to pitch to industry titans.

Ahead of that show's release, Business Women has announced that Williams is investing millions of dollars into a woman-owned startup called Ellevest.

"I invested in Ellevest because I believe in women, and I believe in our potential, and I believe that it's time to change the game," Williams said.

Ellevest is an app-based digital investment company that wants to help empower women financially through investment. The company, founded by Sallie Krawcheck, also helps women to save money for retirement.

Krawcheck hopes that Ellevest will make it easy for women, particularly women with very little experience, to start investing successfully. In order to help users, the company provides financial planning and investment portfolio design services.

Allegations of racism and sexism abound in the finance industry. Krawcheck once worked for banking giants Citigroup and Bank of America, and says that there is a "gender gap in investing and personal finance."

She hopes to end that gender gap, and to offer women the tools they need to do so.

Also of concern to Krawcheck, is the fact that, in the United States, women live longer than men. This means that women who plan to retire need to save more money than their male counterparts.

She hopes that Ellevest will encourage women to start saving for retirement immediately.

"Even if you're thinking, 'I don't have a lot of money right now,' you need to save for your future," she said, noting that even $50 can get people started.

Williams said that her whole career, she's tried to "create my own path." She, and Krawcheck, believe that Ellevest will help other women to do the same.

female empowerment

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