Patagonia Launches a Venture Fund for Environmentally Responsible Startups
The next big environmentally minded startup may be funded by an unlikely source: Patagonia. The clothing giant recently decided to launch an internal venture fund, called $20 Million & Change, that will invest in startups working to make the world a better place via the clothing, food, water, energy and waste industries. Patagonia has never been a traditional clothing company. It's always cared more about environmental impact than most of its counterparts. Last year, the company went so far as to launch a campaign asking customers to buy less stuff.