08 May '13, 3pm

Patagonia launches '$20 Million & Change' start-up fund #ecofashioninthenews

Patagonia launches '$20 Million & Change' start-up fund #ecofashioninthenews

Patagonia’s Latest Product: an In-House Venture Fund Patagonia, a company known for its progressive environmental and social practices, is launching an in-house venture fund. But unlike traditional corporate funds, many of which simply aim to reduce risk by diversifying company assets, Patagonia’s fund will invest in startups that try to make a positive impact in five areas: clothing, food, water, energy, and waste. “How [the fund] came to be, really, was we’ve had a great five years—we basically doubled the company,” explains Rose Marcario, a former chief operating officer and chief financial officer of Patagonia who is now chief executive of Patagonia’s newly announced holding company, Patagonia Works, and also head of the fund. “We have cash on the balance sheets, and unlike a lot of other companies that sort of hoard their cash, Yvon and I started talking about what we...

Full article: http://magnifeco.com/patagonia-launches-20-million-change...

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