Beyond proud to announce that blisce has become the first B Lab certified growth venture capital fund in the EU. B-Corp is both a certification and a legal status. To become a B-Corp we had to complete an assessment and audit process. The assessment looks at all aspects of our environmental practices, labor policies, organizational governance, investment strategy, and charitable giving. We changed our legal documents to include a consideration of all stakeholders in thebusiness, not just shareholders, as well as to include that “The purpose of the Company shall include creating a material positive impact on society and the environment, taken as a whole, from the business and operations of the Company.”
As Covid-19 challenges the startup & VC ecosystem, blisce/ reaffirms itsconviction that ESG is essential to rebuilding.
In an effort to help build a more resilient venture capital and startup ecosystem that better serves all stakeholders, blisce/, the growth venture capital fund, today announced that it is becoming a Certified B Corporation®. Widely recognized as the gold standard for responsible business, B Corps are committed to practicing the highest social and environmental standards. As societies and economies globally adapt to the impact of Covid-19, blisce/ is convinced, more than ever, that ESG is critical to building — and rebuilding — a stronger technology industry that is also aligned with consumer expectations for socially-minded brands.
Alexandre Mars, founder & CEO of blisce/, stated: “The Covid-19 crisis has made ever more apparent the need for our ecosystem to place ESG at the core so we can protect our employees, shareholders, environment and community. We are proud to become the first B Corp™ certified growth venture capital fund in the EU. This recognition is a testament to our commitment to ESG, diversity, inclusion and social responsibility.”
Augustin Boulot, Executive Director of B Lab France, added : “We are thrilled to welcome blisce/ to the B Corp community. Their strong commitment to social responsibility shows that purpose and profits go hand in hand, and that business can be a force for good.”
blisce/ has carefully embedded ESG practices across every level of the investment fund. In regard to its portfolio, the fund’s term sheet includes two non-negotiable clauses for ventures: an agreement to carry out an ongoing ESG evaluation every 12–18 months; and a commitment to interview at least one diverse profile for every open senior leadership position. As a team, the blisce/ team has committed to donating 20% of their carried interest revenues to Epic, a non-profit startup that fights to change the lives of disadvantaged youth worldwide. Furthermore, blisce/’s B Corp certification points to the rigorous standards it holds for the fund’s own environmental, social and governance practices.
Founded in 2013 by the entrepreneur and philanthropist Alexandre Mars, blisce/ is a growth venture capital firm that supports mission-driven entrepreneurs in the creation of global innovative consumer brands and technology companies, such as Spotify, Pinterest, Headspace, DICE and Brut. blisce/ is active in Europe and the United States.
About B Lab
B Lab is a nonprofit that serves a global movement of people using business as a force for good. B Lab’s initiatives include B Corp Certification, administration of the B Impact Management programs and software, and advocacy for governance structures like the benefit corporation. B Lab’s vision is of an inclusive, equitable, and regenerative economic system for all people and the planet. To date, there are over 3,400 Certified B Corps in 150 industries and 70 countries, and over 70,000 companies use the B Impact Assessment. Visit bcorporation.net for more information.