French VC firm Ring Capital says its final close of its Ring Mission impact fund at €66 million, a nice bit above the initial target of €50 million, shows 'adequacy of our impact approach' and allows it to support start-ups even further and possibly increase ticket sizes - between €500,000 and €5 million.
Tikehau Capital, Bpifrance, BNP Paribas, Mirova and Danone have once again supported Ring Capital’s fund for impact driven start-ups and European Investment Fund (EIF) and the Visa Foundation have also joined the action this time around.
'More than an amount, this fundraising is a sign of investors' awareness that they can: (i) change things and direct capital towards solutions to the real problems of the world and (ii) be role models and engage the entire value chain in this direction' the firm stated on LinkedIn.
Going on to say 'Investing in impact is not only a question of responsibility, but it is also the sine qua none condition for creating sustainable shareholders value. This is what we do at Ring Capital through our 3 strategies of Growth, VC and Venture Philanthropy - support entrepreneurs developing solutions to tackle climate and social challenges'.
Investing as a minority shareholder in ten start-ups (three international) since 2021, the Ring Mission fund provides a total of twenty investments on two key themes: the financing of environmental transition and social justice.
“The criteria are specific to each investment, but we also use traditional indicators such as tonnes of CO2 or plastic avoided. In all cases, the indicators must be correlated as much as possible with activity and turnover,” said Nicolas Celier, co-founder of Ring Capital.
“If the financial objectives are achieved, but the impact objectives are not met, 50% of the amount of the carried goes to Ring Foundation, a philanthropic venture fund that invests in young associations with high potential for impact. For our Limited Partners, it is the guarantee of the impact of their investment," Celier added.