DBL Partners closed DBL Partners III, a $400 million impact fund focused on investments that combine value and values. Consistent with the market-tested model of prior funds, this fund aspires to embrace a “no sacrifices” approach, infusing investments with positive social, environmental or regional economic impact without compromising financial returns.
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Nancy Pfund, Managing Partner and Founder, DBL Partners (Photo: Business Wire)
“The size of this fund puts impact investing squarely in the mainstream and the sustainability focus included in its mandate puts to rest any concerns that the time for clean energy investing has passed,” said Nancy Pfund, Managing Partner and Founder, DBL Partners. “Building great companies that also help to solve some of the core challenges of our age is not an oxymoron as some would posit – in our view, these goals go hand-in-hand and there is no sacrifice."
The newly formed fund combines partners from DBL Investors and Technology Partners’ energy practice, who are collectively recognized for their pioneering leadership in impact investing.
“Together our teams have helped to build some of the best-known companies in the sustainability field,” said Ira Ehrenpreis, Managing Partner and Founder, DBL Partners. “We look forward to partnering with the fast growing number of successful entrepreneurs who increasingly embrace the double bottom line model and want to build world-class companies and change the world in the process.”
The team has a 10-year history of collaboration and co-investment, including in Tesla Motors. The new fund has already invested in five new companies to date since its first close in December 2014.
The DBL Partners investment team includes Managing Partners Nancy Pfund and Ira Ehrenpreis, Senior Partner Cynthia Ringo and Partners Mark Perutz and Marc van den Berg. Team members will continue to manage prior funds’ portfolios separately.
DBL Partners III will focus on investments in sustainable energy, products and services, digital media and imaging, health care, and IT. Investments will pursue a double bottom line approach defined as a strong financial return with measurable, beneficial social or environmental impact as well. Job creation, job quality, and bringing the benefits of the entrepreneurial economy to neighborhoods that have not historically housed start-ups are some of the tools DBL has used and will continue to use in pursuit of its mission.
About DBL Partners
DBL Partners is a pioneer of double bottom line venture capital, a new and growing field of investing that seeks to optimize both financial return (First Bottom Line) and positive social impact, including social, environmental and regional economic benefits (Second Bottom Line). Based in San Francisco and Palo Alto, the firm focuses on sustainable energy, products and services, digital media and imaging, health care, and IT. The team has invested in a wide range of successful portfolio companies, including Pandora Media (NYSE: P), SolarCity (NASDAQ: SCTY), Tesla Motors (NASDAQ: TSLA), Revolution Foods, SpaceX and many others, which have created more than 30,000 jobs. More information about DBL Partners is available at www.dblpartners.vc.
Christine Hinton, 415-939-0139