Salesforce Ventures Launches US$100M Fund for Cloud Startupsby Fintechnews Switzerland October 7, 2020
Salesforce announced its second Impact Fund worth US$100 million from Salesforce Ventures, the company’s global strategic investment arm.
The new fund will accelerate the growth of cloud companies addressing some of today’s most pressing needs including education and reskilling, climate action, diversity, equity and inclusion, and providing tech for nonprofits and foundations.
“Now more than ever, we believe business can be a powerful platform for change. We must leverage technology and invest in innovative ideas to drive the long-term health and wellness of all citizens, enable equal access to education and fuel impactful climate action,”
said Suzanne DiBianca, Chief Impact Officer and EVP of Corporate Relations at Salesforce.
“Through this new fund, Salesforce will invest in companies solving the world’s most pressing social and environmental challenges.”
The new fund will invest in companies delivering solutions that address today’s urgent and interwoven crises:
- Education + Workforce Development – Companies enabling equal access to high-quality education, reskilling and preparing workers for jobs of the future.
- Sustainability – Companies creating better access to clean energy, improving resource efficiency and supply chain performance and developing new technologies that will help address climate change.
- Diversity, Equity and Inclusion – Companies developing tools that promote equal opportunity and economic empowerment for women and underrepresented groups, as well as investing in women and underrepresented founders.
- Social Sector Technology – Companies amplifying impact for nonprofits, foundations and public sector customers through technology that increases efficiency and transparency.
Continued Investment in Social Good
Impact investing is experiencing significant growth as businesses and investors increasingly aim to make real-world change and build a better future for all stakeholders. The Global Impact Investing Network states that despite recent headwinds, impact investors hold a positive outlook for the future, and estimates the market size at $715 billion, up more than 40% from last year.
In 2017, Salesforce Ventures introduced its first $50 million Salesforce Ventures Impact Fund to support a new generation of startups that are focused on driving positive social change. To date, this fund has invested in more than 25 companies to help accelerate their impact around the world.
Featured image credit: Salesforce