Outdoor apparel company Patagonia has established a $20 million venture capital fund to invest in like-minded businesses that share its environmental focus on clothing, food, water, energy and waste. The last line of Patagonia’s mission statement is “… use business to inspire and implement solutions to the environmental crisis"--and they are sticking to it.
The $20 Million & Change is a holding company for the environment, and according to Yvon Chouinard's announcement of the fund, "Now is the time for Patagonia to take the next logical step: to reach out beyond the framework of the apparel and outdoor industries... an internal fund to help like-minded, responsible start-up companies bring about positive benefit to the environment." It will stake early-stage companies ($1 million or more in revenue or capitalization is required) with $500,000 to $5 million. In addition, the young companies will receive help from Patagonia in sourcing materials and with manufacturing, selling and distributing products.
With the launch of $20 Million & Change, the company has reorganized into a new holding company called Patagonia Works, which is solely dedicated to using business to help solve the environmental crisis.
To seek capital, email firstname.lastname@example.org or call 805-667-2300.