The philanthropic arm of software firm Autodesk made a program-related investment to Closed Loop Ventures’ 10-year fund, which makes equity investments in circular economy focused startups. Autodesk’s design software is used in engineering, architecture and product design. The foundation’s mission is to support environmentally and socially-conscious design thinking.
“The foundation’s mission is aligned with the company’s interests, so focus on startups in production, manufacturing, and the circular economy,” Autodesk Foundation’s Kate McElligott told ImpactAlpha. Most of the foundation’s past work has been through traditional grant-making, however the foundation now runs a donor-advised fund, which is managed by ImpactAssets and has deployed about $2 million.
“We wanted to make a small amount of capital go as far as possible,” McElligott said. The PRI to Closed Loop Ventures was made from Autodesk Foundation’s donor-advised fund.