ImpactAlpha, February 2 — Sustainable investing is hot. Possibly hotter: Rolling funds. Rather than requiring a fund manager to raise a full fund in a short time, rolling funds, launched last February by AngelList, allow fund managers to accept new capital in the form of auto-renewing quarterly commitments.
Footprint Coalition, founded by the actor Robert Downey Jr. in 2019 to invest in sustainability-focused companies, is bringing the two trends together.
The group is launching FootPrint Coalition Ventures, which will roll out one early-stage and one later-stage rolling fund. “Investment in sustainable technology is a critical pathway toward the discovery and scaling of better solutions for our planet,” said Downey Jr.
FootPrint Coalition has made five investments, including one in French agtech startup Ÿnsect in October (see, “Ÿnsect raises $372 million for carbon negative, vertical insect farming”).
The new funds will target sustainability focused consumer products and services, food and agriculture technology, materials and industrial tech, energy and transportation, education and media, and advanced environmental solutions.