Meghan Markle, the Duchess of Sussex, is investing in female-led vegan startup Clevr Blends. With this investment, the self-proclaimed feminist, who has already campaigned for gender equality in the past, is expanding her mission to address the undervalued female-led business sector. The amount invested is undisclosed at this time.
It’s almost 2021, but about 75% of women are still facing gender bias in the plant-based industry. Although companies founded by women have proven to perform better, they only received about 3% of investment money in 2019.
In July 2020, Meghan Markle gave an influential speech on gender equality as she closed ‘The Time Is Now’ Women in Leadership Plenary. In her speech, she appealed to young women to prove themselves as leaders and reshape the world around them, as reported by ET Canada.
According to Fortune, The Duchess of Sussex specifically targets female-led businesses to be part of her investment portfolio, with vegan instant oat coffee startup Clevr Blends, led by female co-founder and CEO Hannah Mendoza, as her first publicly announced investment.
The startup claims to be the developer of the world’s first instant oat milk wellness lattes, with upgrade ingredients such as functional mushrooms and adaptogenic herbs to make the vegan alternative not only a healthier choice, but also a more functional one, promoting long-term energy. The product line includes Matcha-, Chai-, Coffee-, and Golden SuperLatte.
The product’s taste has already been confirmed by American talkshow legend Oprah Winfrey, who announced on her Instagram channel that the Golden SuperLatte from Clevr Blends will be her “new drink of choice for the morning and night”.
In a statement for Fortune, Meghan Markle commented on her investment debut as follows: “This investment is in support of a passionate female entrepreneur who prioritizes building community alongside her business.”
“I’m proud to invest in Hannah’s commitment to sourcing ethical ingredients and creating a product that I personally love and [that] has a holistic approach to wellness. I believe in her, and I believe in her company.”