Venture Capital: Salesforce Ventures Launches $100M Impact Fund (II) For Cloud Startups
This second impact fund from Salesforce Ventures will support innovative companies driving social change.
Salesforce Ventures, the global strategic investment arm of Salesforce (NYSE: CRM), announced Tuesday the launch of its second Impact Fund worth $ 100 Million.
The fund will invest in cloud companies that have a positive social mission. This could be in education, climate action, diversity, equity, and inclusion, or support for nonprofits and foundations. (silicon canals)
Social impact investing
Impact investing has, of late, experienced significant growth after investors developed an inclination to change the world for the better.
Impact investors use their capital to generate a positive impact on the world while earning a decent return in the process.
According to the Global Impact Investing Network, the size of the worldwide impact investing market is about $ 715 billion.
Earlier this month, Dutch impact investing fund manager Social Impact Ventures launched a second fund. The fund was given the new name of Rubio Impact Ventures. The fund has raised nearly € 100 million to support impact-driven entrepreneurs with game-changing solutions for society’s biggest problems. That includes € 20 million from the European Investment Fund and a € 10 million SEED capital loan from Dutch RVO.
Salesforce Ventures as a platform for change
“Now more than ever, we believe business can be a powerful platform for change. We must leverage technology and invest in innovative ideas to drive the long-term health and wellness of all citizens, enable equal access to education, and fuel impactful climate action,” said Suzanne DiBianca, Chief Impact Officer and EVP of Corporate Relations at Salesforce. “Through this new fund, Salesforce will invest in companies solving the world’s most pressing social and environmental challenges.”
“We want to support next-gen entrepreneurs developing solutions that drive digital transformation and customer success, and also improve the state of the world,” said John Somorjai, EVP of Corporate Development and Salesforce Ventures.
Related Story: Nuveen Expanding Impact Investing Initiatives
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