Academy Award-winning actor Leonardo DiCaprio is known to be a conscious backer of various brands and startups over the years. However, this time, he’s partnering with Santa Monica-based venture capital firm Struck Capital in hopes of funding the LA tech ecosystem.
While the amount of DiCaprio’s investment was not disclosed, Struck Capital notes that he made a significant contribution to their fund, not only in terms of money but also in terms of attracting other investors and opening doors for more opportunities. The fact that this is the first Los Angeles fund that DiCaprio invested in further solidifies this claim, making it a notable move on the actor’s part.
It’s important to acknowledge the actor’s knack in investing. Previously, he joined as an investor and advisor of the climate technology fund of Princeville Capital of San Francisco. He also joined the ranks as an advisor and LP at the Data Point Capital of Boston. He’s also an investor in some of the most popular startups in recent years like Casper, Rubicon, and Beyond Meat.
The A-lister’s partnership with Struck Capital is aimed towards boosting LA’s tech industry. The local playing field is showing great promise and DiCaprio hopes to bolster its growth by committing to building LA as a tech powerhouse. As Struck Capital envisions the city as “a leading hub for innovation to save the world,” the two parties’ goals align rather well.
DiCaprio’s statement regarding this investment notes the city’s unique “creative and innovative spirit,” and that he looks forward to investing in the new wave of entrepreneurs and business leaders that are operating in his hometown.
When asked how Struck Capital was able to bag this investment, they shared that they had mutual acquaintances. However, such a move isn’t all too shocking as DiCaprio is known for several advocacies.
His environmental activism has not gone unnoticed, especially in the past few years with climate change being one of the most pressing topics around the world. His other public investments also say a lot about his convictions as it was announced that he helped fund startups that are focused on sustainability and consumer innovation. He’s also behind Diamond Foundry who makes lab-grown diamonds, Runa Tea who promotes sustainable rainforest preservation, and Love The Wild which is a sustainable meal prep company.
As Struck Capital aims to work with startups with social missions, it makes sense that they have grabbed the attention of the superstar. With their $55 million second fund, they’re all ready to invest in businesses like Aquabyte which aims to boost the efficiency of fish farming.
The way Struck Capital sees it, DiCaprio’s investment is the actor’s way of supporting LA. It’s also confirmed that he will make co-investments alongside the venture capital firm. He’s one of the long lists of celebrities that are dipping their fingers in startup investments.
Being the fourth largest dedicated seed fund in the city of Los Angeles, Struck Capital is estimated to have $150 million of assets under management. Included in their portfolio are Brainbase, Mythical Games, Sendoso, and ScratchPay among others.