Pledge 1%, a force multiplier and global movement to inspire, educate, and empower every entrepreneur, company, and employee to be a force for good, today announces that a growing number of top venture capitalists (VCs) featured on the Forbes Midas List have personally agreed to support the movement, proving the most successful VCs are increasingly taking the time to ensure the companies they influence also have a positive ESG impact on the world:
- More than 20 percent of the VCs on this year’s Midas List were on the board of a company that set aside equity to fuel long term social impact efforts. At the time the 2020 list was published just two years ago, that number was approximately 13 percent.
- That number jumps to 35 percent if individuals who were the lead investor from their firm supporting these companies are included, up from about 17 percent at the time the 2020 list was published.
“While the Pledge 1% movement was founded six years ago, partnering with companies to set aside equity for social impact on the path to IPO is something we’ve been fueling with greater intention and focus over the past two years. The impact can be seen not only on this list, but in the huge amount of corporate philanthropy we’ve been able to unlock together,” said Amy Lesnick, Chief Executive and President of Pledge 1%. “We’re incredibly proud of the impact these VCs and their portfolio companies are having. With their support, we’re paving the way for a future state where setting aside assets for ESG and philanthropy will be ingrained in every organization’s DNA.”
Globally, there’s a huge push towards ESG and a more inclusive, engaged business culture. Companies are increasingly having to figure out how to incorporate social impact into their business, especially as it continues to play an important role in talent recruitment, retention, and engagement strategies. With the help of Pledge 1%, the Pledge 1% Boardroom Allies, and their portfolio companies - like AvidXChange, Coinbase, Sprinklr, and UiPath - billions of dollars have been ignited through their equity pledges to fund corporate philanthropy.
Today’s momentum builds on Pledge 1%’s announcement last fall that over $2 billion in new philanthropy has been unlocked for good since the launch of its CEO Equity Playbook in the summer of 2020.
About Pledge 1%: Pledge 1% is a force multiplier and global movement to inspire, educate, and empower every entrepreneur, company, and employee to be a force for good. Over 15,000 members in 100 countries around the world have used Pledge 1%’s flexible framework to ignite billions of dollars and hundreds of thousands of volunteer hours in new philanthropy. To learn more about Pledge 1%, and how your company can get involved, visit pledge1percent.org.
