Plus, Amsterdam-based Rockstart launches fund to back early-stage tech startups and help develop ideas aimed at tackling societal problems via tech-enabled solutions
The Global Impact Investing Network (GIIN) has launched a corporate impact investing initiative in collaboration with PayPal, the TELUS Pollinator Fund for Good, and Visa Foundation.
The initiative provides company leaders with a new set of tools and resources to help them attain their environmental and social goals, while also achieving business objectives, according to the partners.
Companies have enormous potential to leverage impact investments and partnerships toward addressing urgent environmental and social needs while responding to growing calls from corporate stakeholders to improve lives and livelihoods, the partners said, noting that more than $2 trillion was being held in cash by U.S. companies alone at the end of 2020.
Amit Bouri, GIIN’s CEO, said corporations were critical to scaling the solutions for challenges facing communities around the world.
“This initiative is an important lever to help unlock much-needed capital and technical skills that are currently sitting on the sidelines,” he said. “By working with impact investors, companies can discover new possibilities to help build a sustainable, just, and inclusive future.”
Gabrielle Rabinovitch, senior vice president, capital markets, investor relations and treasurer at PayPal, said leveraging corporate treasury for impact investing was a strategic way for corporations to align shareholder and community interests. Over the last two years, PayPal has allocated $400m in treasury investments toward closing the racial wealth gap in the US and committed an additional $100 million towards global gender equality, he said.
GIIN is inviting other companies to contribute to the initiative by sharing their perspectives and work, access educational resources and tools, and connect with other companies and investors to learn how to best unlock their potential for impact investing.
Tech accelerator Rockstart launches third fund targeting €30m
Rockstart has announced the launch of a new fund, Rockstart Emerging Tech, to fund early-stage technology startups and help develop ideas aimed at tackling societal problems via tech-enabled solutions.
The Amsterdam-based early-stage investor is targeting a €30m close for the fund and plans to invest in up to 50 start-ups over the next ten years. The fund is supported by Danish sovereign wealth fund Vækstfonden, the De Hoge Dennen family office, tech entrepreneurs and Rockstart’s founders amongst others.
Rockstart says the Emerging Tech fund will focus mainly on areas such as Industry 4.0 and advanced analytics, smart societies, digital health, and data privacy and security.
“Rockstart has the experience and track record of supporting tech founders to scale locally, regionally, and globally and providing access to market and capital partners at all stages. With Rockstart Emerging Tech, we are expanding on the strategy we set out in 2012,” Rune Theill, Rockstart’s CEO said.
The fund follows on from the Rockstart AgriFood fund, which closed in 2021 at €22m, and Rockstart Energy, which closed in 2022 at €27m.