IBB Ventures launches impact fund

The venture capitalist wants to invest 30 million euros in Berlin-based startups with sustainable business goals. Part of the money comes from the European Union.

Berlin-based venture capitalist IBB Ventures is launching an impact fund in parallel to its existing technology funds. Through this fund, the subsidiary of Investitionsbank Berlin intends to invest 30 million euros in start-ups that are not solely concerned with commercial success.

Specifically, IBB intends to use the money to support Berlin-based companies whose business activities are in line with the United Nations' 17 Sustainable Development Goals (SDGs) and which strive to make a "positive contribution to addressing societal challenges."

IBB Ventures is raising 60 percent of the funding itself, with the rest coming from the European Regional Development Fund. "Berlin is a startup capital and at the same time a pioneer in the growing market of social enterprises," says Berlin's Senator for Economic Affairs Stephan Schwarz: "With the new Impact Fund, we want to further strengthen this development and make even better use of the potential of our startups to tackle major societal challenges."