Actor and environmental activist Leonardo DiCaprio has backed a $150 million climate change fund.
The Princeville Climate Technology Fund — the newest fund of Princeville Capital — invests in technology companies that strive to positively address climate change issues.
The companies backed by the fund fall into a variety of sectors, including smart grid, energy efficiency, and smart cities; the latter uses data and technology to create efficient, sustainably-run urban areas.
DiCaprio has long fought for environmental issues, using his celebrity status and social media platform to advocate for positive change. The team behind the new climate fund — which has offices in Amsterdam, Hong Kong, and San Francisco — shares the filmstar’s “sense of urgency” to address climate change.
It noted in a press release, “[Princeville Capital] sees the opportunity to accelerate the growth of disruptive technologies that can address the climate crisis.” It continued, “Mr. DiCaprio will join a team of experts in climate, technology, and global markets with a passion for driving impact, as well as strong financial returns.”
DiCaprio has already invested in a number of companies seeking to protect the planet and slow down the effects of climate change. His foundation — The Leonardo DiCaprio Foundation — has donated over $80 million to 200 environmental projects in the last two decades.
In 2017, the actor invested in Beyond Meat, the creators of the “bleeding” plant-based patty which looks, cooks, and tastes similar to beef.
The food technology brand was recently honored with the United Nations “Champions of the Earth” award in the category of science and innovation. The patty uses 99 percent less than water than a traditional 1/4 lb beef burger, as well as 93 percent less land, and produces 90 percent fewer greenhouse gases.
As well as Beyond Meat, DiCaprio has invested in Hippeas — a chickpea-based snack brand — and Califia Farms, which makes vegan milk.
By supporting the Climate Technology Fund, DiCaprio hopes to utilize the technology sector in the fight against climate change.
“Tackling climate change requires an urgent, broad-based shift in our energy use,” he said in a statement. “Technology and private sector investments will play a critical role in securing a healthier future for our planet.”
“The vision of the Princeville Capital team and the goals of the Fund are part of this effort and I look forward to working closely with them,” he added.
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