ESG-focused Blisce Fund II holds first close

ESG investing

Blisce, a B Corp certified transatlantic growth VC fund that has previously backed ventures including Spotify, Pinterest and Headspace, has launched the new fund Blisce Fund II, with a final target of USD350 million.

Blisce Fund II, which held its first close today at USD150 million, will make investments ranging from USD10 million to USD35 million, in American and European companies on the forefront of new consumer trends. The fund will specifically look for high growth, high impact sectors including anti-food waste providers, and companies who deal with the future of health, micro-mobility, trusted financial services and access to education.

In this way, Blisce plans to double down on backing mission-driven entrepreneurs to create global consumer brands and tech companies that “do well by doing good”, according to the firm. Founded by Alexandre Mars in 2014, Blisce, whose investments include Too Good To Go and Brut, is co-headquartered in New York and Paris.

The new fund recently completed its first investment in Imperfect Foods, a US-based sustainable online grocery company. “We are grateful to our investors for their support and vote of confidence, said Blisce's CEO Alexandre Mars in connection with the announcement.

“Their participation in Blisce Fund II is a strong endorsement of our transatlantic market knowledge, our leadership on ESG matters and our conviction that consumers are increasingly using their purchasing power to support socially-conscious brands that share their values and have a positive impact on society,” he added.

With regards to broader ESG outlook and strategy, Blisce’s term sheet includes two non-negotiable clauses for ventures: an agreement to carry out an ongoing ESG evaluation every 12-18 months; and a commitment to interview at least one diverse profile for every open senior leadership position. Blisce also donates 20 percent of its carried interest revenues to the non-profit Epic.