Marriott Harrison is pleased to have advised on the sale of tech for good VC Bethnal Green Ventures (BGV) to socially conscious asset manager Connected Asset Management (CAM).
Since it launched in 2012, BGV has invested in 141 companies and was the first UK VC to become a certified B Corp in 2015, meaning that its aim is to balance purpose with profit. BGV, one of the five most active VCs in the UK, invests in early stage businesses that focus on achieving a positive impact for people and the planet. Following the acquisition, BGV will continue to work as an independent firm under the CAM group as it scales its tech for good strategy. It is hoped that the merger will lead to more impact investment from pension funds.
Paul Miller, Managing Partner and CEO of BGV, said: “It’s always a delight to work with the Marriott Harrison team and this deal was no different. We particularly valued their counsel in this case because it was a world first. As the impact investment sector grows and matures, this was a great opportunity for us to cement our position as Europe’s leading tech for good VC firm by tapping into the defined contribution pension market that Connected have so much expertise in.”