Kerry Washington, the actress best known for her work on beloved drama “Scandal,” is one of several powerful women investing in other women. (Credit: Wikimedia Commons)
Actress Kerry Washington is putting her money where her mission is — investing in early-stage startups as an angel investor.
Best known for her role as Olivia Pope on Scandal, Washington has quietly built a growing portfolio of investments by using her own funds to support emerging businesses. As an angel investor, she backs companies in their early stages of growth — a distinct approach from venture capitalists, who typically invest pooled funds at later stages.
Most recently, Washington participated in a $550,000 fundraising round for Cheersy, a platform that helps couples find day-of wedding coordinators. The round also included contributions from Elizabeth Cutler, co-founder of SoulCycle, and was advised by Christina Tosi, founder of Milk Bar.
“The fundraising journey can be so lonely and a real knock on your mental health,” Cheersy founder Amy Shack Egan told TechCrunch. A chance encounter at a dinner both she and Washington attended turned into a transformative opportunity for Egan’s company, which launched just last year.
Washington’s portfolio reflects her values, with past investments in companies like the Black-owned social site Spill, the eating disorder recovery startup Equip, and the charity fundraising platform Omaze. She was also an investor in the women’s social club The Wing before it closed three years ago.
She joins a growing list of high-profile women — including Melinda French Gates, Rihanna, Halle Berry, Katie Couric, and Serena Williams — who are using their wealth and platforms to champion equity in business through strategic investments.
Many, like Washington, are especially focused on backing marginalized founders. When she invested in the social app Spill last fall, she shared a statement with Black Enterprise explaining her motivation:
“In a digital world where marginalized groups, especially Black, Brown, and LGBTQIA folks, rarely feel prioritized, Spill stands out. I’m proud to be part of [Spill’s] community as both a user and an investor.”
Tennis icon Serena Williams, one of the most active celebrity investors through her firm Serena Ventures, echoes that sentiment:
“When people are talking about diversity, that really means everyone having a seat at the table — everyone kind of having an opportunity to win,” she said. “And that’s what I like to do.”
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