Venture capital and public companies have invested over $1 billion in B Corps so far.
Most B Corps are privately owned, so most investment into them is in the private markets. At this point, nearly every major Silicon Valley venture-capital firm has invested in a B Corp, including:
- Benchmark Capital
- Founders Fund
- Andreessen Horowitz
- Prelude Ventures
- Tao Capital Partners
- Hunt Technology Partners
- Shasta Ventures
- Fyrfly Venture Partners
- Khosla Ventures
- Collaborative Fund
- Blueberry Ventures
- Thrive Capital
- General Catalyst
- Chicago Ventures
- LiveOak Venture Partners
- Sherpa Asset Management
Some particular examples include:
An education company that had already raised $130M from the venture community, announced a $40M raise in May 2017.
In April 2017, Lemonade, a peer-to-peer personal insurance startup, received a strategic investment from Allianz, after having closed a $34 million Series B round in December 2016.
In March 2017, Data.world, an Austin-based tech startup, announced that it had secured a $19M Series B round.
In April 2018, Danone, the French multinational, announced that it had combined all of its U.S. operations into DanoneWave, a $6 billion revenue company that intends to certify as a B Corp by 2020.
Laureate Education is a KKR-backed higher education company with campuses around the world. In February 2017, Laureate raised $490 million in an IPO having previously closed a $383 million private equity pre-IPO round in December 2016, which included Apollo Management, KKR and the Abraaj Group. Subsequent to the IPO, a Fidelity fund disclosed filed a 13G disclosing that it had bought 10 per cent of Laureate’s Class A Common Stock on the open market.
Pukka has recently been acquired by Unilever. That makes Pukka Unilever’s fourth B Corp acquisition alongside Ben & Jerry’s, Seventh Generation and Mea Terra.
In 2018, Innocent Drinks became the first subsidiary of Coca-Cola to certify as a B Corp.
Brazil’s largest cosmetics business is publicly traded.
Was acquired as a public company in 2015 for $480 million.
Trades as a public company on the Australian Stock Exchange.
Extracts from: How investors really feel about B Corps?