Last year, actor Robert Downey Jr of ‘Iron Man’ launched the FootPrint Coalition, an organization dedicated to using high-tech innovations to tackle environmental problems. As part of that effort, the actor and activist, has now announced the launch of the FootPrint Coalition Ventures, a series of rolling venture capital funds focused on sustainable technology.
“I love our planet, but it’s got problems — we all know it,” said the celebrity in an official Instagram post announcing the news. “We need new solutions… I’m seeing crazy, amazing new tech products that can restore the environment, and we are at the precipice of the sustainable technology renaissance with A.I., robotics, computational biology, creating amazing new materials, foods, products, sources of energy.”
The FootPrint Coalition Ventures will invest money in sustainability-focused companies, create educational content around the environment and make charitable donations to non-profits. The end goal will be to address the climate crisis as well as other major environmental challenges such as deforestation, food scarcity, and microplastics.
The philanthropist said that he hopes the new venture funds — which are expected to raise more than $80 million a year — will encourage private companies to understand the key role play in tackling sustainability issues. He also hopes the investments will attract more attention to enviro-tech solutions and lead to their widespread implementation.
