Robert Downey Jr To Fund Groundbreaking Technologies That Will Help Fight
Among the other celebrities who are fighting environmental issues is Robert Downey Jr who has recently joined the badwagon and launched venture capital funds to support technologies that will fight environmental problems.
While making the announcement, the Oscar nominee said that he aims to “accelerate groundbreaking technologies that are addressing the world’s largest environmental challenges”. He is looking to develop sustainable technology that will help tackle the problems like deforestation and micro plastics.
Downey’s FootPrint Coalition, a company founded in 2019, has invested in companies like Ynsect, a biotech company that designs, builds, and operates insect production and processing facilities for the production of feed for fish and poultry, and Cloud Paper, which makes bamboo toilet paper, among others.
“There’s groundbreaking technologies we’re going to vet and… keep doing what we’re doing, finding the best in class and accelerate scaling them up,” Downey told Reuters.
“We feel (the funds) is a move towards just a little bit of democratisation in this usually very exclusive space.”
Downey wants to “quickly mobilize more people and catalyze more capital”.
FootPrint Coalition Ventures will have an early- and late-stage fund that will have a
quarterly subscription fee of USD 5,000 and a minimum one-year subscription.
Jonathan Schulhof, who will co-lead FootPrint Coalition Ventures, said, “Rather than raising money infrequently from very large anonymous institutions … we do the opposite.”
At the panel discussing Arctic at the virtual World Econonic Forum, Downey talked about the short videos that his creative team have made on the coalition’s side. The videos talk about topics including aquaculture and deforestation.
“I always feel that if you have great content and the community feels that, the audience grows, that helps us with our access to deals and then we get better outcomes.”
FootPrint Coalition Ventures wants to invest in food and agriculture technology, sustainability-focused consumer products and services, energy and transport, materials and industrial tech, education and media and advanced environmental solutions.