ImpactAlpha, June 29 — London-based Bethnal Green Ventures has been acquired by Connected Asset Management. Bethnal’s Paul Miller said the acquisition “opens up the ability for us to raise capital from the growing number of institutional investors who are committing to impact investing.
“That will help us to provide more follow-on investment to our portfolio companies which is a gap we’ve seen in the European impact venture market,” he told ImpactAlpha.
The London-based early-stage investor launched in 2012 to invest in tech ventures tackling challenges in health, education, sustainability and democracy. It has backed 141 startups, including indoor farming tech startup LettUs Grow.
Connected Asset Management, also in London, manages assets for Smart Pension, which invests for U.K. pension funds.
“We’re both B Corps and want to see impact investing scale without a dilution of purpose,” Miller said. “For both companies impact investing always has to be intentional and measurable.”
BGV will continue to operate independently.
Buy or build
Earlier this year, Munich-based Golding Capital Partners acquired boutique impact fund manager Sonanz, also in Munich, while Pathstone acquired Cornerstone Capital (see, “Cornerstone Capital acquired by Pathstone as impact advisory consolidation continues”).