Leonardo DiCaprio is launching a $150 million climate fund

leonardo dicaprioLeonardo DiCaprio speaks on stage at the Dinner & Auction during The Leonardo DiCaprio Foundation 3rd Annual Saint-Tropez Gala at Domaine Bertaud Belieu on July 20, 2016 in Saint-Tropez, France.Getty Images

  • Oscar winning actor Leonardo DiCaprio will back a climate technology fund in conjunction with boutique investment firm, Princeville Capital.
  • DiCaprio is set to serve as an advisor Princeville's "Climate Technology Fund" which will focus on backing rapidly growing tech companies.

Leonardo DiCaprio is set to become a backer and advisor to a $150 million environmentally focused fund.

The actor, who has appeared in films like "Titanic" and "The Wolf of Wall Street," will help boutique investment firm Princeville Capital with its new "Climate Technology Fund." DiCaprio has already raised $100 million through his own Leonardo DiCaprio Foundation, founded in 1998, which provides funding to environmental projects such as species conservation and climate change.

However, a recent Intergovernmental Panel on Climate Change (IPCC) report indicated that the scale up of private capital efforts towards the environment is key to preventing future environmental catastrophe. Similarly, there is an understanding that future solutions will be technologically focused making investment in this sector increasingly important.

"I am proud to support Princeville Capital as an advisor to their Climate Technology Fund," said DiCaprio. "Tackling climate change requires an urgent, broad-based shift in our energy use - and technology and private sector investments will play a critical role in securing a healthier future for our planet. The vision of the Princeville Capital team, and the goals of the Fund are part of this effort and I look forward to working closely with them."

DiCaprio addressed environmental concerns in his Oscars winning speech for his role in The Revenant and also participated in a major climate march in New York in 2014.

Princeville Capital already has a fund which focuses on the environment and has worked with a variety of major companies to invest in climate-related projects.

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