Black Woman-Founded Gather Ventures Invests In African Climate Startups With Rihanna’s Help

The impact fund supports these women-led businesses through grants, loans, and more.

A new impact fund invests in environmentally focused startups across Africa, backed financially by Rihanna.

Gather Ventures has a lofty mission in mind: to support African women founders championing environmental relief and climate resilience. Gather has its own women founder, Jo Opot, to thank for its purpose.

Born in Kenya, Opot understands the struggle and perseverance of African women as they forge their own livelihoods. Her upbringing drives her current mission to amplify these businesses, while keeping the environment in mind.

“In Kenya, women’s constitutional right to inherit property was only legally recognized in 2012,” Opot explained to AFROTECH. “Many women build assets with their partners or families, but if their partners pass away, that wealth often goes to the man’s family, not the woman who contributed. We want to move beyond income to real asset ownership for women so that they can build intergenerational wealth.”

Backed by Rihanna’s Clara Lionel Foundation, Gather Ventures seeks to support “ventures that both create climate resilience and drive asset creation for women and girls across Africa.” Launched in 2021, the Impact Fund supports women founders across various sectors, including agriculture, construction, technology, education, and workforce development.

The fund primarily supports women-led businesses that promote environmental sustainability, accounting for 80% of its investments. One business client includes Mobility for Africa, which provides tricycles for transportation that better fit the needs of women riders. Another company, Giraffe Bioenergy, transforms cassava, a drought-resistant plant often grown by women, into a hearty food source and converts it into clean ethanol cooking fuel.

“More capital needs to go to climate adaptation and resilience, not just mitigation,” added Opot. “Low-income communities facing drought didn’t cause it, but they suffer the most. Second, gender needs to be mainstreamed in climate finance because investing in women is proven to be highly effective.”

Both companies have been able to expand their operations and products through Gather Ventures. What this help looks like, however, varies, with the fund tailoring its services for each businesses’ needs. Whether offering grants, loans, or other resources, Gather Ventures provides sustainable support to help these companies grow.

“We’re instrument agnostic, providing grants, working capital, equity, or debt as needed, helping entrepreneurs avoid taking the wrong capital for the wrong reasons,” Opot continued. “We focus on agriculture — the largest employer of women — and also on construction and tech, the fastest-growing sectors with the fewest women. To improve gender equity, we must get more women into growing sectors to ensure long-term, viable careers.”

Opot hopes that Gather Ventures promotes more women visionaries in Africa to obtain green assets. She encourages others interested in climate justice to first connect with the local communities they wish to impact.