Collateral Good, a Zürich, Switzerland-based climate-first venture capital platform, announced the launch of a new strategy dedicated to “Sustainable Fashion” and financially backed by global premium fashion company HUGO BOSS.
The newly launched fund has a target size of EUR100M. Besides corporates such as HUGO BOSS the fund has attracted interest from family offices, asset managers and institutional investors.
Collateral Good Sustainable Fashion fund, a fund under SFDR Art. 9, will invest globally in innovation and technology to accelerate the transformation of the textile and fashion industry to a more sustainable one. The vehicle will invest initial cheques from EUR 1-3M into startups all along the value and supply chain into areas such as recycling of textiles, upcycled raw materials, novel dyeing materials and processes, and transparency of supply chain, among others. The portfolio shall be comprised of 20 to 25 startups.
The investment team will be led by partner Martin Ott, formerly Managing Director for adidas Ventures.
Commenting on the fund launch, Daniel Grieder, CEO of HUGO BOSS, said: “We are excited to enter the partnership with Collateral Good, a reputable and experienced Venture Capital Investor in Sustainability. Together, we will fund the most promising technologies and innovations that drive sustainability within our industry and explore how we can integrate them into our products and processes at scale. Our aim is to accelerate the transition to a more sustainable fashion system, and open up new opportunities for our industry and peers.“
Michael Kleindl, Founder and Managing Partner of Collateral Good, added: “We are incredibly excited to announce leading premium fashion company HUGO BOSS as a lead investor in Collateral Good Ventures Fashion I. HUGO BOSS is the perfect ally in our mission to decarbonize the fashion industry.“
With its two brands, BOSS and HUGO, the HUGO BOSS group offers collections in 132 countries at around 7,400 points of sale and online in 70 countries via hugoboss.com. With approximately 17,000 employees worldwide, the company, based in Metzingen (Germany), posted sales of EUR 3.7 billion in the fiscal year 2022.