As we were trolling the crowdfunding platform Wefunder looking for inspiration for a crowdfunding story today, we happened upon something rather unique – an accelerator/fund. There’s really no one thing you find on these, although we’ve noticed lots of spirits, coffee and bar deals there. Still this is something different.
According to their listing, “The Force for Good Accelerator / Fund is specifically designed to nurture, grow, and launch women- and people of color-owned, high-impact, ‘Best for the World’ B Corporations (i.e., companies that score in the top 10% of B Corps worldwide).
Our ambition is to (1) become the first crowdfunded investment fund for “Best for the World” B Corporations, (2) increase the number of women- and people of color-owned B Corps, (3), increase the number of B Corps that address climate change through their business model, (4) help more companies measure, compare, and improve their social and environmental performance, and (5) prove that this model works so it can be scaled and/or replicated anywhere in the world.
- One of the top “most money raised” on WeFunder in October 2016
- 9 world-class advisory board members, including Rose Marcario, CEO of Patagonia; Kat Taylor, CEO of Beneficial State Bank; and Gigi Lee Chang, Founder of Plum Organics
- $20k in charitable startup funding raised from B Corps like King Arthur Flour, The Honest Company, and Guayaki
- $65k in loan loss reserve raised to protect investors if the fund does not do as well as anticipated”
Existing funders include Ben & Jerrys and Seventh Generation (the green cleaning product firm), amongst others. Advisors include the CEO of Patagonia, a director at King Arthur Flour and founder of Plum Organics, amonst others.
As of publication time, they have raised $218,111 from 71 investors, toward a funding goal of $100K-$1M.