In 2006, after working 25 years in private equity and for public companies, Rose Marcario had a crisis of faith. “I went through what many people do at that age, in my 40s, the sort of crisis of conscience about whether my personal values aligned with my work, which is where I spend most of my waking life,” she says. The answer was no, so she shifted gears and in 2008 joined Patagonia, known for profitably making outdoor gear while going to great lengths to protect the environment. Now Marcario is helping spread Patagonia’s environmental and social values through the Ventura (Calif.)-based company’s new in-house venture fund. Called $20 Million & Change, it will invest in startups trying to have a positive impact in five areas: clothing, food, water, energy, and waste.
“We’ve had a great five years—we basically doubled the company,” says Marcario, now president and chief executive officer of Patagonia’s holding company, Patagonia Works, and also head of the fund. “We have cash on the balance sheets, and unlike a lot of other companies that sort of hoard their cash, Yvon and I started talking about what we could do that might serve the causes that we care about.”
