Tennis legend Serena Williams invested in women's 3-on-3 basketball league Unrivaled, bringing the its value up to $340 million, the league announced Monday.

Serena Williams arrives on the red carpet at the 2025 Met Gala at the Metropolitan Museum of Art on May 5. The tennis legend's Serena Ventures is among several new investors in the Unrivaled basketball league. File Photo by John Angelillo/UPI UPI U.S. Women's National Team Alex Morgan stops short of crashing into Irish goal keeper Courtney Brosnan in the first half at City Park in St. Louis on April 11, 2023. Morgan joined investors raising the Unrivaled league's valuation to $340 million. File Photo by Bill Greenblatt/UPI UPI Billie Jean King attends the annual ESPY Awards at the Dolby Theatre in the Hollywood section of Los Angeles on July 16. File Photo by Jim Ruymen/UPI UPI Co-founder and president of Unrivaled Alex Bazzell arrives on the red carpet at the TIME100 Gala Jazz at Lincoln Center in New York City on April 24. Bazzell said the new investments will allow Unrivaled to accelerate the league's growth. File Photo by John Angelillo/UPI UPI Orlando Magic's Franz Wagner (22) reacts after a play against the Cleveland Cavaliers at Rocket Mortgage Fieldhouse in Cleveland on May, 5, 2024. The forward invested in Unrivaled. File Photo by Aaron Josefczyk/UPI UPI

Sept. 8 (UPI) -- Tennis legend Serena Williams invested in women's 3-on-3 basketball league Unrivaled, bringing the its value up to $340 million, the league announced Monday.

Williams' venture capital firm, Serena Ventures, along with fellow tennis icon Billie Jean King and soccer star Alex Morgan's Trybe Ventures, participated in the Series B investment round led by Bessemer Venture Partners and Warner Bros. Discovery.

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A person familiar with the league told CNBC the league's valuation rose by more than three times its $95 million value a year ago.

Unrivaled President Alex Bazzell said the investment allows the league to "accelerate our strategic growth."

"This rise in Unrivaled's valuation reflects investor confidence and proves that athlete-driven models can thrive at the highest level of business."

Additional Series B investors include Atlanta Hawks point guard Trae Young; Orlando Magic players Franz Wagner and Moritz Wagner; sports executive Sam Rapoport; University of Maryland President Darryll J. Pines and his wife, Sylvia Pines; and Next Legacy Partners.