Mills & Reeve assists Bethnal Green establish a social investment fund

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Mills & Reeve has acted for Bethnal Green Ventures (BGV) on the Tech for Good SEIS and EIS Fund. BGV is an early stage investor in Tech for Good, backed by funding from the Big Society Capital, Nesta and the Social Tech Trust, that run an accelerator programme to support teams that use technology which potentially could solve some of the world's most pressing environmental and social problems.

In establishing the Fund, BGV will act as fund advisor in collaboration with fund manager Midmar Capital LLP and fund custodian Mainspring Nominees Limited.

Dona Ardeman, principal associate at Mills and Reeve said:  “In a climate where many investors are increasingly looking to have a positive impact as well as make a commercial return, it is refreshing to see funds like this designed with a view to doing both well.  It was a pleasure to take part in the creation of an innovative fund using money where it matters” 

Melanie Hayes of Bethnal Green Ventures said:  “Over the years, we’ve invested in more than 100 businesses that have a social mission at their core and use technology to scale their delivery to help people and planet. At the same time, we’ve seen a marked increase in the number of investors that strongly believe that it’s possible to achieve positive impact and financial returns. With this fund we’re pleased to make the process easier and enable more investors to do good and do well. ”

Kevin Gallacher, Partner at Midmar added:  “Our funds invest in early stage technology firms across a wide range of sectors and we are seeing more and more opportunities in tech for good.  As a business, and as individuals, we share and support the common objective of all of these firms to have a positive social impact and make profits.  That is why we are really enthusiastic to be working with BGV on another fund designed with this specific focus.”

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