Actor Robert Downey Jr launches venture fund Footprint Coalition Ventures
American actor and producer Robert Downey Jr announced the launch of his venture fund Footprint Coalition Ventures at the World Economic Forum's Digital Davos event. The media and investment group aims to combine high impact media with early-stage and opportunistic growth stage investments.
Footprint Coalition Ventures will be investing in early and late-stage companies, alongside institutional partners. It will also be supporting early scientific and technological research efforts to advance frontiers.
The company has already invested in YNSECT, Cloud Paper, and RWDC. The actor's wife, Susan Downey, is also part of the core team.
Earlier in 2019, at Amazon's re:MARS conference, "The Avengers" star had revealed his plans on using advanced technology to clean the planet. It was then that he announced the launch of The Footprint Coalition Foundation.
"I love our planet but it's got problems. We need new solutions, and lucky for us, sacrifice is not the only answer. I am seeing crazy, amazing tech products that can restore the environment," Robert Downey Jr, who played Iron Man in MCU's 'The Avengers' movie franchise, said.
The venture fund will focus on sustainable technology, AI, and robotics, among others.
Robert Downey Jr writes, "In 11 years, when I am 65, if we make a noble dent in what I consider is a massive threat to our future — the mess we leave behind — I'm going to come back, and I'm going to throw the nuttiest retirement party you've ever seen, and all of you are invited."
Founded in 2019, Footprint Coalition Ventures is, "a coalition of investors, donors, and storytellers, committed to scaling technologies to restore our planet."
The venture fund plans to invest in high-growth, sustainability-focussed companies. It will also make charitable grants to non-profits that promote the adoption of environmental technology. The website says, "We entertain, inform, and mobilise the public with original and curated content."