Serena Williams has set her sights on new playing court: basketball. The retired tennis star has invested in the women's 3-on-3 basketball league, Unrivaled , now valued at $340 million, the league said Monday.

Williams participated in the two-year-old league's Series B investment round through her Serena Ventures, an early-stage venture capital firm. Joining her is former FIFA World Cup champion Alex Morgan, through her Trybe Ventures. Tennis legend Billie Jean King and other notable sports figures participated, too.

Bessemer Venture Partners, a venture capital firm, led the investment round.

The Unrivaled league claims to offer players the highest average salary in professional women's sports league history. It began as a way for WNBA players to earn money in the offseason, with

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