Fortune: Meghan Markle Makes Her First Personal Business Investment in Instant Oat-Milk Lattes
Meghan Markle, the Duchess of Sussex, has made a name for being several things, including an actress and an activist. Now, she is heading into the world of business with a first venture capital backing.
Earlier this week, Fortune Magazine reported that Meghan Markle, the Duchess of Sussex, has made her first public business investment. To no one's surprise, she chose to support a female-owned brand as her first investment choice.
The news source explained that the former actress had acquired a stake in Clevr Blends, a California-based business that makes oat-milk lattes. The company is located in Montecito, close to the Duchess' new home.
Prince Harry and Meghan Markle in Johannesburg, South Africa on October 02, 2019 | Photo: Getty Images
In a statement, the Duchess commended Clevr Blends chief executive Hannah Mendoza, explaining that she loved her passion and commitment.
The Duchess added that Mendoza was just as passionate about building the community as she was about making it in business. Her statement continued:
"I'm proud to invest in Hannah's commitment to sourcing ethical ingredients and creating a product that I personally love and has a holistic approach to wellness."
Fortune explained that the investment was a part of the Duchess' commitment to improving wellness for people. She had reached out to the company after trying out one of its lattes recently.
The brand is reportedly planning to use the investment from the Duchess to scale its business. It currently employs just six people and will be looking to expand significantly, going forward.
The company will donate 1 percent of its revenues to food justice organizations in the country.
A spokesperson for the Duchess reportedly failed to disclose the investment's size or how much she will acquire in Clevr Blends.
It is also unclear whether the investment is a part of any more extensive funding round. Still, Mendoza seemed to be excited about moving forward. She told Fortune:
"Entrepreneurs need funding, but they also need advisers who care deeply about what they are building."
Along with business operations, Clevr Blends will also engage in community development. The company will donate 1 percent of its revenues to food justice organizations in the country.
Currently, the brand donates some of its funds to El Centro SB, a mutual aid organization based out of Santa Barbara. The Duchess already began promoting her new investment as well.
She recently sent a Christmas gift package to none other than Oprah Winfrey, and it included some packets of the Clevr oatmilk blend. With the Duchess now having a taste of the business world, it will be interesting to see what firm she chooses to invest in next.