Meghan Markle has been investing in female-run companies since the 2020 pandemic lockdown and estimated that her portfolio now includes five to 10 brands.
In a recent interview with the New York Times, the Duchess of Sussex described her investing stance as "dolphin tank" instead of Shark Tank.
"These are friendly waters," she added.
Her first investment was in vegan instant latte company Clevr Blends, and her latest investment is in Cesta Collective, which sells bags that are handwoven by women in Rwanda and finished in Italy.
She wouldn't disclose details about her investment, but Cesta cofounders Erin Ryder and Courtney Weinblatt Fasciano told the Times that it's a minority stake.
A representative for Meghan and Prince Harry's Archewell Foundation didn't immediately respond to a request for comment. A spokesman for Cesta declined to say more about the investment. In a statement to Fortune, Cesta said Meghan is the company's first equity investor and strategic partner.
"The quality of a brand’s products, the supply chain, ethical standards and practices—these are all things that I consider before making an investment," Meghan said in the statement. "With Cesta, I really started to understand how many women's lives were being impacted and uplifted through their work. That was incredibly important to me. Erin and Courtney have a great pedigree from their careers working in fashion and have created beautiful products that equally help so many others. That was something I could get behind and support."
She told the Times that she spends a lot of time "just Googling, looking for brands" and discovered Cesta while online shopping. After she wore a Cesta bag in May 2023, the company noticed a spike in sales, leading Fasciano to send Meghan a thank-you note that began a relationship with the duchess.
The founders told the Times that Cesta's annual revenue is about $1 million and that the company prioritizes responsible production and fair wages over profit margins. With Meghan now on board, they hope to expand into other categories and work with women in other developing countries.
"Our shared sensibilities made this partnership a natural fit and we’re excited to work together to further expand our impact," Ryder said in the statement.
Meanwhile, Meghan is launching her own lifestyle brand and debuted an Instagram account in March for American Riviera Orchard.
That comes after ventures in the media industry. Her Archewell Productions company is adapting the novel Meet Me at the Lake into a Netflix film.
But the company parted ways with Spotify less than a year after the debut of their Archetypes podcast, sparking a backlash in the industry.
As for her latest ventures, Meghan told the Times, "Investing in them has helped me line up for this chapter where I’m investing in myself."
