NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Monday, August 18, 2014

New York City-based venture firm Collaborative Fund, and CircleUp, the fundraising platform for “anything but tech” startups, have partnered to invest $4 million into certified B Corps, said CircleUp co-founder Ryan Caldbeck.

B Corps, also known as benefit corporations, are certified by the nonprofit B Lab and promise to make a positive social or environmental impact on the world. The for-profit businesses must report standardized impact metrics while delivering returns to their shareholders.

CircleUp has already helped nine certified B Corps raise $10.2 million in equity funding from accredited angel investors. Peeled Snacks raised $2.38 million, the most for a single B Corp on the platform so far.

One that is currently raising funds on CircleUp, Make a Stand Inc., is a lemonade maker that is committed to fighting child slavery.