Co-led by former ice cream exec Dan Fishman and DJ/real estate tycoon Michael Smith, the fund looks to fund startups developing products for the circular economy and regenerative materials. It estimates the market opportunity in this space at $4.5 trillion. Its portfolio companies include lab-grown leather maker VitroLabs and sustainably focused fashion brand Pangaia.
“We need forward-thinking approaches that perform measurably better for our planet,” says DiCaprio, who will also serve as a strategic advisor to the fund. “It’s time for people to feel good about their purchases and for businesses to meet that challenge—every bite of food, every t-shirt, every product counts.”
Tribe Capital, ImpactAssets, Twist Bioscience co-founder Bill Peck, and Depeche Mode guitarist Martin Gore also participated.