The German fashion brand has committed capital to a fund investing in between 20 and 25 startups working towards improving sustainability in the industry's supply chain.
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Germany fashion company Hugo Boss has announced its investment in Collateral Good’s new sustainable fashion fund, Collateral Good Ventures Fashion I.
The new fund invests initially between €1m and €3m in startups startups all along the value and supply chain in areas such as recycling of textiles, upcycled raw materials, novel dyeing materials and processes, and transparency of supply chain.
Collateral Good is a Zürich-based climate tech venture capital firm which has traditionally invested in food packaging technologies. Collateral Good Ventures Fashion I fund has a target size of €100m, with Hugo Boss providing 10% of this investment. The fund has also attracted family offices, institutional investors and assets managers.
“Through this new form of investment, 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,” said Daniel Grieder, chief executive of Hugo Boss, said in a release.