Actor Robert Downey Jr.’s new investment fund is tackling issues like deforestation, greenhouse gas emissions and microplastics. The Iron Man star announced his two new venture capital funds at the World Economic Forum’s virtual Davos meeting on Wednesday. They will be an extension of a broader environmental initiative he set up in 2019. Just two years ago, when the actor, producer and investor. unveiled his new, sustainability focused initiative called the FootPrint Coalition at Amazon’s re:MARS conference it was little more than a static website and a subscription prompt. Today the firm now has five portfolio companies, a nonprofit initiative, and is launching a rolling venture fund, Footprint Coalition Ventures, at the World Economic Forum’s Digital Davos event.
The FootPrint Coalition is a group of “investors, donors and storytellers” who are committed to backing the technology needed to restore our planet. The fund puts money into sustainability-focused companies, creates educational environmental content and makes charitable donations to non-profits. FootPrint Coalition’s new venture capital funds will invest in a range of different solutions from energy and transport to education, media and high tech sustainable innovation.
“We realized that part of what we do is we generate content that builds a community and grows an audience and then we can leverage that into getting eyes on deal flows that normally would be very exclusive,” he told the CNBC network. For sustainable startups, FootPrint Coalition is “picking the best among them, and doing [its] part to help them succeed”. It also wants to help tell their stories and get them in the public eye so that a global audience can get behind these groundbreaking innovations. “What drives me above all, is to make a lasting and meaningful positive impact on humanity, and on the planet,” says Downey Jr. “I am a technophile and an optimist, who is deeply concerned about restoring the mess we are leaving behind.”