We are delighted to announce a partnership with VentureESG to help accelerate the adoption of high-quality environmental, social and governance (ESG) – including business integrity – practices in the venture capital (VC) industry.
VC is having a transformative impact on many sectors globally. VC-backed companies have the potential to create large numbers of jobs and deliver impactful services. Integrating ESG practices can help to ensure that the risks and opportunities associated with this transformation are considered in a systematic way. However, the VC industry has lagged behind other asset classes in adopting ESG and it presents a unique risk profile, with typically disruptive business models designed for rapid scale.
VentureESG, a community-based non-profit initiative, was officially launched in July 2021 to promote and tailor ESG practices for VC. Since then, VentureESG has become the leading industry body and thought leader. The community includes over 370 VC fund managers and 100 limited partners.
The collaboration between British International Investment and VentureESG brings together ESG approaches from developed and emerging markets. This is an increasingly important area for many VC-backed companies in the interconnected global marketplace. Our partnership will focus on sharing knowledge, training, and developing tools and guidance.
British International Investment is a longstanding authority on ESG integration in the private equity industry, including through our ESG Toolkit for Fund Managers and extensive ESG training programmes. Since 2018, we have also increased our focus on backing VC funds and early-stage companies; and as a result we have developed guidance and training for the VC industry, including Responsible Venture Capital (2020) and Business integrity guidance for venture capital fund managers (2021).