Material Impact led a $15m round in Gen Phoenix.

Material Impact, a venture capital firm, led a $15m round in Gen Phoenix, a sustainable recycled leather fiber material manufacturer at scale, with participation from Tapestry. "This expanded partnership marks a major milestone, not just for Gen Phoenix, but for the future of sustainable materials. Together with Tapestry, we are proving that circular innovation can meet the demands of global brands without compromise. It is a powerful example of what happens when you combine material innovation, leather heritage, shared values, and a commitment to scale," John Kennedy, Gen Phoenix CEO.