Patagonia founder gives away $3 billion company to fight climate change; a list of 195+ impact investors
Alternative Funding resources & community for purpose led founders
Happy Sunday! I’m Esme, the founder of Considered Capital. This is the 27th issue of The Considered Club. Welcome to the 89 people who signed up this week. The most clicked post from our last issue was the Johnnie Walker First Strides Grant Program. If you’ve enjoyed what you’ve read today, consider sharing it with a fellow founder.
Today we’re talking about Patagonia and Steward Ownership.
Outdoor brand Patagonia announced this week its transition to a steward owned company.
This means Patagonia’s founder Yvon Chouinard, his wife and two adult children have handed over a hundred percent of all Patagonia shares (valued at about $3 billion) to a purpose trust and non-profit to preserve the company’s independence and ensure that all of its profits — some $100 million a year — are used to combat climate change.
In his own words: ‘Earth is now our only shareholder’.
Patagonia’s decision is such a phenomenal response to climate change and an example to anyone stewarding a business. It also sets an encouraging precedent for other businesses to consider impact over private wealth creation.
“Instead of ‘going public,’ you could say we’re ‘going purpose,’”Chouinard said in a statement. “Instead of extracting value from nature and transforming it into wealth for investors, we’ll use the wealth Patagonia creates to protect the source of all wealth.”
To answer all your questions on Steward Ownership and Patagonia’s decision we’ll be hosting a community conversation on October 6th. Details for signing up will be in your inbox this week.
And if you have questions you’d like us to address, you can submit your questions here.
Also in today’s newsletter:
Funding opportunities for founders
Top recommended reads
Latest news from our alumni
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MONEY
Find grants, upcoming accelerators, pitch competitions & more
Grants & Challenges
The Baobab Collective Fund | access grants of between £5,000 and £30,000 per year for up to five years for organisations led by and for Black and Global Majority people working on racial justice
UNWTO Awake Tourism Challenge | access a programme of support for entrepreneurs working to accelerate sustainability
Accelerators
Bran Investments Accelerators Challenge | a three-month programme to help you address your challenges and accelerate your growth through bespoke sessions
Queen of Green Energy | a 3-day immersive programme designed for leading UK & Israeli women in sustainable energyTech
biotope by VIB | a twelve-month incubator programme for biotech startup teams looking to impact people’s lives through innovation
Funds
Impact Stars | a list of 195+ impact investors and philanthropic foundations
Coralus | interest free five-year loan for companies working on creating a better world
i³ | a new UK-based angel syndicate dedicated to backing LGBTQ+ founders, as well as entrepreneurs from other marginalised backgrounds.
Recommended Reads: A Guide to winning Small business grants
It’s a tale as old as Silicon Valley, and it’s the number one reason startups fail: running out of cash and failing to raise more capital. It’s more than just a worst nightmare: it’s a very real prospect that many founders will be facing up to in the current market.
One alternative form of funding worth considering is non-dilutive grant funding, a very appealing prospect to founders considering all of their options. Founders Factory have shared their thoughts on the benefits of grant funding, and tips for writing a top application.
Alternative Funding School alumi Jane Middlehurst launches course for home renovators
If you’re looking for help with your home renovation, this course will change your life. Homenotes Getting Started Course is a three- week guided programme designed to save you time, money and stress by making a plan for your renovation. Click below to find out all the details.
Access a special 25% discount. Booking closes today.
Incase you missed it
If you’re new here, catch up on our last issue
And finally, I’ll be speaking at an event on Wednesday all about raising funding for your business. Join us if you can.
See you next Sunday.
Esme,
Founder of Considered Capital
Want more? There are three ways we can help you fundraise:
1. Learn how to Raise Alternative Funding in 6 six weeks here
2. Download our Considered Funding Directory here
3. Book us to deliver an alternative funding workshop here
