Emma Watson has backed a biodegradable plastics company, making her the first Harry Potter star to make the transition into angel investing.
An angel investor is a high-net-worth individual who provides backing for startups or entrepreneurs early on in the company’s growth.
Watson, who came to fame playing Hermione Granger in the juggernaut franchise, is part of a group of investors funnelling £12.5 million (AU$23.1 million) into FabricNano.
The London-based company has developed a method to make plastics without using fossil fuels and chemicals, and without costing any more.
Watson is joined by Twitter cofounder Biz Stone and the former chief executive of Bayer, Alexander Moscho, in investing in the early stage company.
It expects to be able to launch its products on the market in between 12 and 18 months.
Watson, who has a reported net worth of US $80 million (AU$107 million), has been vocal about environmental issues since her days in the Harry Potter franchise.
In 2009, she launched an ethical fashion range with People Tree, and used her press tour for 2017 film Beauty and the Beast to highlight sustainable fashion, often wearing garments made from offcuts.
She’s also far from the first celebrity to take a turn into venture capital.
Jay Z, through Marcy Venture Partners, was an early investor in Uber and Impossible Foods, while Bono was an early investor in Facebook.
Will Smith invests in Elon Musk’s tunnel digging startup, The Boring Company, and Serena Williams also invests in Impossible Foods and MasterClass through Serena Ventures.
Justin Bieber invests in companies including Spotify, while Ashton Kutcher holds early investments in Houzz, Uber and Airbnb.
Tyra Williams is a major investor in female-owned digital media company TheSkimm, while Priyanka Chopra invests in Bumble.
Jessica Alba, one of Hollywood’s most successful investors and businesswomen through her Honest Co. company, also invests in Headspace.
Emma Watson has recently made headlines for backing a biodegradable plastics company, marking her foray into the world of angel investing. An angel investor, such as Watson in this case, is a high-net-worth individual who provides financial backing to startups or entrepreneurs in the early stages of their growth.
Joining a group of investors, Watson and other notable names are investing a significant amount, a total of £12.5 million (AU$23.1 million), into FabricNano, a London-based company that has innovatively developed a method to produce plastics without relying on fossil fuels or harmful chemicals, all while maintaining cost efficiency.
One of the key aspects that sets FabricNano apart is its commitment to environmental sustainability, which aligns perfectly with Watson’s own advocacy for eco-friendly practices. With a reported net worth of US$80 million (AU$107 million), Watson has been an outspoken advocate for environmental issues since her time portraying Hermione Granger in the iconic Harry Potter franchise.
In addition to her contribution to FabricNano, Watson has previously delved into ethical fashion by partnering with People Tree in 2009 and promoting sustainable fashion during her press tours for films like Beauty and the Beast in 2017. Her dedication to conscious consumerism extends beyond her on-screen roles, showcasing a commitment to making a positive impact.
It’s worth noting that Watson is not the only celebrity to venture into the world of venture capital. From Jay Z and Bono to Will Smith and Serena Williams, many well-known figures have diversified their portfolios by investing in companies like Uber, Impossible Foods, and The Boring Company.
As the landscape of investing continues to evolve, Watson’s involvement in FabricNano serves as a testament to the growing importance of sustainability and innovation in the business world. Follow us for more updates on impactful investments and inspiring ventures.
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Source: CNN
