Phil Graves (pictured), managing director of Tin Shed Ventures and a Global Corporate Venturing Powerlist 100 awardee for 2016, by email said the rebranding was needed as it had already “far surpassed the $20 million mark and invested in 12 portfolio companies since 2013 (when it won fund launch of the year at the GCV Awards).
These deals include California Safe Soil, which is creating organic fertiliser from unsold produce, NuMat Technologies, a materials technology company developing a nanoporous material that can change how gases are stored, transported and separated, Wild Idea Buffalo, a provider of grass-fed, naturally-raised buffalo in the US, Yerdle, a “stuff-sharing” app, Beyond Surface Technologies, a Switzerland-based chemicals company developing natural textile treatments, CO2 Nexus, which cleans and coats textiles with liquid carbon dioxide, and Bureo Skateboards, which recycles defunct fishing gear to produce skateboards and help keep oceans free from dangerous plastics.
In a CNBC interview he said the fund had “double digit returns so far with social and environmental good.
“Patagonia has been a magnet for responsible entrepreneurs, with over a 1,000 companies applying for venture funding. We always look at what we can pull through into our supply chain. Our portfolio companies are unlocking eco-innovations that enable Patagonia to build the best product, while causing the least amount of environmental harm.”