Village Capital, a prominent impact investor, announced its investments in two women-led startups, Farmio and Closet. This initiative, facilitated through the Women in Tech Financing Facility managed for Standard Chartered Bank, underscores Village Capital’s dedication to closing the gender gap in venture capital funding and supporting businesses with positive social and environmental impact.
Farmio, founded by Anaporka Adazabra, champions climate-resilient agriculture in Ghana. Anaporka, having witnessed the struggles of local farmers firsthand, developed a solution that empowers small-scale farmers with the necessary tools and knowledge. Farmio provides tech-enabled solutions like affordable greenhouses made from upcycled materials to reduce water consumption and extend growing seasons. Additionally, the startup offers climate-smart training in sustainable practices such as drip irrigation and soil management techniques. Farmio also connects farmers directly with larger buyers, eliminating middlemen and increasing profits. The impact of Farmio goes beyond improved yields and food security; by incorporating circular economy principles and empowering women farmers, the startup fosters a more sustainable and equitable agricultural ecosystem in Ghana.
Laiba Amir, founder of Closet, identified a unique opportunity to address the high costs associated with weddings in Pakistan. Her innovative platform allows users to rent designer outfits for a fraction of the retail price, creating a win-win situation for borrowers and lenders. Closet offers significant benefits like cost-effective fashion, where users can save up to 90% on wedding attire, freeing up resources for other priorities. The platform also promotes sustainable practices by extending the lifecycle of garments and reducing textile waste.
Furthermore, Closet empowers over 5,000 women by providing them with an income stream through lending out their pre-loved clothing. Village Capital played a crucial role in supporting Closet by structuring a Shariah-compliant investment that aligns with Laiba’s Islamic finance principles. This investment transcends financial returns, contributing to positive social and environmental change.
Village Capital’s investments in Farmio and Closet represent their dedication to fostering a more inclusive and impactful entrepreneurial landscape. By empowering women-led startups with vital capital and support, Village Capital is building a brighter future for communities around the world.
