Broker Vantage Markets announced the launch of the Vantage Foundation at the McLaren Technology Center.
The Foundation's primary mission is to raise awareness and identify issues such as depression, anxiety, and loneliness that are overlooked and silenced globally.
The foundation, which is a non-profit organization, was established with funds raised by auctioning off cars that competed in Extreme E events, as well as driver equipment donated by the NEOM McLaren Extreme E Team, according to the PR Newswire portal.
"Loneliness is another societal challenge that is often overlooked, underappreciated, and unacknowledged. The irony that we are facing an epidemic of loneliness in an age of connectedness speaks to the urgency of addressing this threat to mental and physical health," said Steven Xie, Executive Director of Vantage Foundation.
One of the Vantage Foundation's key partners is UNHCR, the United Nations Refugee Agency.
As part of this partnership, Vantage Foundation and UNHCR worked together on World Refugee Day to educate groups about the hardships refugees face on a daily basis, including the denial of their basic rights.
"For refugees, finding safety is just the start; sadly, many are denied their basic rights. Through our partnership with Vantage Foundation, we will connect people to the experience of refugees, encouraging us all to look past stereotypes and learn more about the refugee cause," said Lydia Piddock, Director of Strategy & Growth at UNHCR UK.
In addition, the Foundation plans to distribute gifts to underprivileged children in six countries around the world for the upcoming Christmas holidays: Singapore, Malaysia, India, the UK, Brazil, and Nigeria.
"Our partnership with Vantage Markets in Extreme E helps to raise awareness of the impact of climate change by racing sustainably. We are proud to play a part in the launch of The Foundation, looking to raise awareness of other important challenges on a global scale," Ian James, Managing Director of NEOM McLaren Electric Racing, said of the partnership.
Read also: New details of the SEC's case against Binance.