BOULDER, Colo.--(BUSINESS WIRE)--Yesterday, at the Techstars 2016 Demo Night during Boulder Startup Week, three leading Colorado-based venture investment firms -- Colorado Impact Fund, Foundry Group, and Greenmont Capital Partners -- announced that they have achieved B Corporation Certification.
The Certification, awarded by the global nonprofit B Lab, recognizes companies meeting the highest global standards for corporate transparency, accountability and social and environmental performance. Colorado’s newest B Corps join 75 others in Colorado and over 1,700 in nearly 50 countries around the world, including well-known leaders New Belgium Brewing, Patagonia, Seventh Generation, Ben & Jerry’s, Kickstarter, Etsy, Warby Parker, Method, Laureate, Hootsuite, and many others.
“Colorado is home to some of the most innovative and inspiring companies in the world,” said Colorado Governor John Hickenlooper. “As Coloradans, we believe our bold capitalistic aspirations can be in harmony with our obligations to our community and the planet. Seeing three of our most influential venture investors deepening their commitment to positive impact by becoming Certified B Corps is a testament to their commitment to making our state an even more vibrant and prosperous place.”
These investors are no stranger to investing in positive impact: Greenmont Capital Partners is not only invested in two Certified B Corporations, Door to Door Organics and Madhava Sweeteners, but they are also a GIIRS-Rated fund, utilizing B Lab’s comprehensive impact management system to benchmark their fund's social and environmental impact. Colorado Impact Fund’s initial fund investment was in Bhakti Chai, a Colorado-based Certified B Corporation. Foundry Group is invested in a wide range of successful tech startups, including ad-free social media company Ello, a Delaware benefit corporation.
“Investors of this caliber choosing to become B Corps marks a major milestone in the business and investing landscape. These are investors who are thinking deeply about how they can make a positive impact, both through their portfolio investments and their own business operations. They’re embracing impact to the core of their business strategy,” said B Lab Colorado Director Kim Coupounas. “Their certification represents a convergence of the innovation and impact communities, and together they are helping lay the foundation of the emerging economy where profit and purpose are interdependent, not mutually exclusive.”
Certified B Corporations and benefit corporations are attracting investment from other mainstream investors like Andreessen Horowitz, KKR, Union Square Ventures, Benchmark, Founders Fund and First Round Capital. Colorado has one of the highest concentrations of B Corporations in the world.