Sustainability Fund 200 million dollars powered by Stella McCartney and Collaborative Fund
Called as SOS Fund, it will be invested in climate solutions and founders for better business
Stella McCartney has joined forces with Craig Shapiro, Founder and Managing Partner at venture capital firm Collaborative Fund,to launch a sustainability fund worth $200 million.
Known as the SOS fund, it is aimed at “cleaner businesses, founders and sustainable solutions”. This includes companies in the fields of decarbonisation, food and agriculture, and materials solutions. Those at Series A or B level will be the main focus.
Bolt Threads partnership
According to McCartney, the SOS fund has already invested in Bolt Threads, maker of Mylo mushroom leather. The fashion designer has been partnering with the company for some time, showcasing a top and trousers made with Mylo early last year.
In October 2021, McCartney presented a mushroom leather bag — based on the design of her classic Falabella bag — at Paris Fashion Week. It was revealed this May that the bag would be available to buy by the end of the year, becoming the first commercial luxury bag made with Mylo.
Research from Infinium Global Research shows the vegan leather market could reach up to 89.6 billion dollars by 2025, as investments shifts to alternative materials. According to the study, the vegan leather industry will have a compound annual growth rate of 49.9 percent from 2019 to 2025.
Sustainable innovations
McCartney is also exploring other sustainable materials. Last year’s Autumn collection featured 80% recycled materials, including sustainably sourced beech wood, regenerated nylon, recycled old-stock fabrics, and partially bio-based faux fur.
A year ago, the designer launched a new version of her classic Eclypse sneakers, made entirely with plant-based and recycled materials.
“Beyond her work as an incredible designer and entrepreneur, Stella is a well-known environmental activist, a champion of animal rights, a lifelong vegan, a pioneer in sustainable materials, and an overall cool person,” said Craig Shapiro, Founder and Managing Partner at Collaborative Fund.
Sources
- VeganEconomist – Stella McCartney Helps to Launch $200M Sustainability Fund
- Fashion United UK – Stella McCartney and Collaborative Fund launch 200m dollar sustainable investment
- Nordot – Stella McCartney backs £164m eco-fund to help production of sustainable fashion
- LiveKindly – Vegan Leather Market Will Be Worth $89 Billion By 2025
