Singapore-based gaming hardware brand Razer has established a $50 million fund to back startups working in the environmental sustainability space, with its maiden investment going to an agrifood startup creating bamboo-based toilet paper.
The Razer Green Fund will be managed by Razer’s corporate VC arm, zVentures, and will “support and invest in environmental and sustainability” startups with a focus on areas such as renewable energy, plastic management, carbon emissions, and sustainable forestry.
Its aim is to “foster a green mindset amongst Razer’s community of youth, millennials, and Gen Z” gamers, the company said in a statement.
Razer, which has a second base of operations in Irvine, California and is listed on the Hong Kong Stock Exchange, designs hardware, peripherals, and accessories for computer gaming enthusiasts.
Last month, it unveiled a 10-year sustainability roadmap which will see it transition to 100% renewable energy use by 2025, as well as becoming 100% ‘carbon neutral’ by 2030.
The roadmap is part of the company’s wider ‘Go Green With Razer’ scheme, which comprises four verticals: green organization, encapsulating the sustainability roadmap and its objectives; green community, involving outreach and educational programs; green products, aimed at making the company’s products more sustainable; and green investment, which the Razer Green Fund falls under.
The fund’s first investment is a seed capital injection into The Nurturing Co. The Singaporean startup designs, manufactures, and sells a range of sustainable consumer products, including its Bambooloo range of toilet tissue and other homecare items made from sustainably sourced bamboo pulp and sold in plastic-free packaging.
According to The Nurturing Co, toilet paper made from bamboo pulp is better for the environment because the plants grow much faster, and require 90% less water and 70% less carbon, than conventional paper crops. A family of four that switches to bamboo-based toilet tissue can save the equivalent of 30,000 liters of water each year, the startup said.
“[We are] excited to welcome Razer as a strategic investor. The immediate matching of possibilities and a desire to help make a positive impact around the world is encouraging and we are excited to have Razer onboarded,” said David Ward, founder and CEO at The Nurturing Co.
“Together [we] will bring our Bambooloo range of sustainable, less-impacting products to an even wider number of consumers across the world.”
As part of their partnership, Razer will help The Nurturing Co to scale up its business, while Bambooloo toilet paper will be used throughout Razer’s offices worldwide – helping the company to meet its sustainability roadmap targets.
“Bambooloo truly embodies our mission to preserve the earth for future generations. We are confident that this investment will set a strong precedence for budding conservation startups to follow,” said Razer chief of staff Patricia Liu.