Taking on the next phase of his efforts towards saving the planet, actor, producer and investor, Robert Downey Jr. has reportedly declared the establishment of FootPrint Coalition Ventures. Accessible to the public, the initiative represents a string of VC funds that are intended at making investments in organizations which are developing solutions for the purpose of addressing environmental problems.
The announcement was reportedly made by Downey Jr. at the digital Davos Agenda event of the World Economic Forum on Wednesday, 27th January 2021.
According to reliable sources, the rolling fund of FootPrint Coalition Ventures is accessible to ‘accredited and qualified’ investors via a partnership with the AngelList startup-investment platform. While almost 2,000 investors are fit for participation in each of the two initial funds, every backer must proceed with a minimum investment of $5,000 in every quarter, so that the opening FootPrint Coalition Ventures funds could secure a sum of over $80 million every year.
Furthermore, for promoting its endeavors, the VC organization will tap into the creative team of Downey Jr., and his massive footprint on social media, which comprises a follower count of over 100 million.
The objective is to utilize storytelling towards the translation of scientific concepts into accessible information for the purpose of attracting talent and awareness to the cause, added the actor, further stating that he is personally making investment in the VC funds, furnishing at least 10% of each of the initial two funds of the firm.
Designating the environmental threats an existential crisis at the global level, Downey Jr. has also stated that he believes in creative problem-solving. The producer has also highlighted that such daunting problems are bound to require an extensive set of new organizations that are focused on working on solutions in spite of a few upper class mega corporations.