Edhec Business School and Ring Capital have launched Generations, an impact seed fund for socially and environmentally responsible start-ups
The fund will be co-managed by private equity firm Ring Capital, which is dedicated to supporting start-ups that impact the world through responsible actions.
The initiative is said to demonstrate both parties’ shared ambition to support entrepreneurial projects that drive social and environmental change. The seed investment fund will support a new generation of entrepreneurs passionate about combining financial performance and social commitment.
Edhec was among the first European business schools to focus on entrepreneurship, opening its original start-up incubator in 2010. Today, Edhec’s incubators launch 70 start-ups a year, more than half of which focus on solving social and environmental challenges.
Edhec says it chose Ring Capital to manage the Generations fund because it represents the standard in impact investing. Ring Capital will contribute its expertise to identifying, financing and supporting entrepreneurs seeking innovative solutions to the world’s most pressing challenges. Edhec will also benefit from Ring Capital’s impressive track record in identifying impact projects and its industry-leading operational support services.
This new fund will be financed with up to €20 million from the Edhec Business School Foundation and school alumni. The fund aims for a target size of €40 million. Some 50 per cent of all profits will be directed back to the Edhec Business School Foundation to accelerate its ambitious scholarship programme.
Commenting on the initiative, Edhec Business School dean Emmanuel Métais said: “In the face of pressing societal challenges, we are proud to invest the proceeds of our value-added research in supporting impact projects.
“Encouraging entrepreneurship is part of our DNA. By creating Generations Powered by Edhec, we aim to support entrepreneurs who put all their energy into creating a sustainable transformation of the economy and society.
“In doing so, we create a virtuous circle: the value of our research allows us to nourish impact entrepreneurship, which will finance new solidarity projects for the Edhec Foundation tomorrow. We are very pleased to be associated with Ring Capital, whose financial expertise and commitment to society are widely recognised.”