Impact investing funds are definitely growing in stature.
Case in point: the close of a new $400 million double-bottom line venture capital fund from DBL Partners in San Francisco, formed by two earlyTesla Motors TSLA –5.28% investors with a long-time interest in impact investing. The founders also say it’s the largest social impact venture fund in existence.
One of them is Nancy Pfund, who spun DBL Investors out of JP Morgan & Co. in 2008, raising a $150 million fund two years later. Recently, she joined forces with Ira Ehrenpreis, previously a general partner atTechnology Partners, as well as with that firm’s clean tech practice. Both are managing partners.