A new crop of venture capitalists is springing up that not only want to earn a profit but also to invest in ventures that make the world a better place. One of them, a firm called Good Capital, even sponsors an annual conference to gather like-minded investors, employers and venture capital job seekers together in one setting, reports Fortune.
Billed as a blend of profit motive and the desire to make a difference, the originators are calling it “social capital” and have developed a website devoted to information about trend, www.socialcapitalmarkets.net
The founding partner of Good Capital, Kevin Jones, says they are looking for people with financial, marketing and manufacturing experience and skills. Examples of the type of companies they invest in include Root Capital, a Cambridge, Mass., company that provides credit to small businesses in rural areas of developing countries that grow coffee, cocoa and vanilla.
Another hybrid venture capital firm called Kaboom, based in Washington, D.C., began with the mission of installing a playground in every urban neighborhood in the country. The VC firm is now launching a for-profit spinoff that makes a playground-in-a-box. Other ventures support literacy programs, affordable housing and organic foods from small farmers in developing countries.
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