Impact VC firm Astanor Ventures has become the latest private markets firm to be certified as a B Corp, according to a statement.
B Corp status is an independently verified certification of a company’s sustainability credentials: it is administered by B Labs, a US non-profit, which measures impact of companies’ operations on the “environment, communities, customers, suppliers, employees and shareholders” using its B Impact Assessment Tool.
Companies must achieve a score of at least 80 in order to be certified. Astanor achieved a score of 121.3, which the firm claims is the highest of any VC manager.
The certification, which identifies companies “using business as a force for good”, has been conferred on several private markets firms including Verdane, TowerBrook Capital Partners, Helios Investment Partners, Summa Equity, Atomico, Ambienta, Abris Capital Partners and Newcore Capital.
Astanor focuses on the food and agribusiness space, and closed its second fund on €360 million last month.
- Further reading: Purpose, profit, status: Why private markets firms turn to B Corps