Venture Capital: HUGO BOSS Invests In Sustainability-Focused Fashion Venture Fund
“We will look for new solutions to target areas such as increasing circularity, using only nature-positive materials, eliminating microplastic pollution, and achieving zero emissions.” – Daniel Grieder, Chief Executive Officer of HUGO BOSS.
HUGO BOSS has reinforced its commitment to sustainability by becoming the inaugural investor in Collateral Good Ventures Fashion I, a climate-centric venture capital fund aimed at expediting sustainability initiatives in the fashion industry. The company’s financial support, spanning five years, will subsidize select portfolio firms operating in startup, early growth, and potential stages.
These entities focus on pioneering solutions and technologies in sustainability across the entire value and supply chain. Areas of emphasis include raw material upcycling, prevention of microfiber releases, and the development of repair and care solutions.
According to Daniel Grieder, CEO of HUGO BOSS, the investment aligns with the company’s CLAIM 5 strategy, emphasizing both growth and sustainability. The collaboration with Collateral Good complemented the HUGO BOSS sustainability strategy, “For a bold and better future,” striving for a waste and pollution-free planet.
The investment seeks innovative solutions to enhance circularity, utilize nature-positive materials, eliminate microplastic pollution, and achieve zero emissions.
Collateral Good Ventures Fashion I, a Luxembourg-based venture capital fund, is designated as a “Dark Green Fund” under the EU Sustainable Finance Disclosure Regulation. It aims for a total target volume of EUR 100 million, with around 10% of investments originating from HUGO BOSS, attracting interest from various investors, including family offices and institutional investors.
Operating as “Collateral Good Ventures Fashion I SCSp RAIF,” the fund exemplifies a commitment to sustainable investment objectives.
Related Story: HSBC Readies $1B Warchest For Funding ClimateTech Startups
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