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Who is investing in B Corps?

Venture capital and public companies have invested over $1 billion in B Corps so far.

Venture Capital

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:

  • Sequoia
  • Benchmark Capital
  • Founders Fund
  • Andreessen Horowitz
  • GV
  • Prelude Ventures
  • Tao Capital Partners
  • Hunt Technology Partners
  • Shasta Ventures
  • Fyrfly Venture Partners
  • Khosla Ventures
  • S2G
  • 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,, an Austin-based tech startup, announced that it had secured a $19M Series B round.

Public Companies


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.

Rally Software

Was acquired as a public company in 2015 for $480 million.

Silver Chef

Trades as a public company on the Australian Stock Exchange.

Extracts from: How investors really feel about B Corps?

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  1. John Featherby

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