Our commitment to ESG
Venture capital plays an important role in identifying opportunities to build technologies and companies that help solve some of the world’s most complex challenges. Because VC firms often help shape companies from inception, we are in a unique position to influence their culture and approach to ESG, and ensure they are building products and services that benefit society.
At Inovia, we believe ESG considerations must extend beyond traditional risk management and become part of the value-added proposition we bring to companies striving to integrate purpose and profit. To do so, tangible goals and practices that generate a positive long-lasting impact must be instituted and ingrained at all levels of our ecosystem. In short, this is about leading the way instead of following. We recognize that we still have a long journey, and are committed to improving and inspiring others.
Our commitment to diversity
In our experience, both at Inovia and within our portfolio, diverse teams and points of view inform stronger business decisions and drive better outcomes. Companies with inclusive cultures attract and retain superior talent, and Inovia is uniquely positioned to create and provide inclusive and equitable access to high-quality career opportunities. We are also committed to pursuing inclusivity and equity through our principles and partnerships that strengthen our organizations and communities.
“Inovia supported us from an early stage to a successful exit – one of the largest tech exits in Canada by female-only founders. We saw an alignment of values with Inovia, most importantly for us the value of building a business with strong fundamentals for long-term success and optionality. As women founders, it was also important that we see an alignment on the value of diversity and we saw their commitment to this both within their own company and in their support of ours, where we had very strong women representation on our board and in leadership and technical roles. Inovia was a great partner from beginning to end and we are thankful to have shared our journey with them.”
– Kristine Steuart, Co-Founder and Former CEO, Allocadia (acquired by BrandMaker)
ESG in our portfolio
” In 2020 Sonder established a corporate responsibility & sustainability function. As a rapidly expanding modern business, we understand the importance of adopting responsible business practices early on. We also recognize the growing trend for publicly traded companies to report against Environmental, Social, and Governance (ESG) criteria. Though we are at the very beginning of our journey, we’ve taken deliberate steps to consider these crucial aspects of our business and how we will measure and transparently report against them to investors in the future. ”
” At Hopper, it has always been our goal to make booking travel easier and more accessible, as we believe deeply in the positive social and economic impact that it has on the world. But we also realize that with travel becoming increasingly part of our global everyday life, this is impacting our environment. As part of our commitment to fight climate change, Hopper plants two trees for every booking in the app to help offset carbon emissions. This initiative is not something our customers have to decide whether they want to opt-in for. We feel it’s important so we just automatically do it on their behalf at no cost to them. We’ve partnered with Eden Reforestation to plant over 23 million trees on behalf of Hopper customers so far. ”
theBoardlist connects exceptional diverse talent with global board and executive opportunities. Inovia has a deep commitment to diversity and inclusion. Read Shawn’s open letter to our community regarding our investment in theBoardlist.
”As a company that values continuous improvement of ourselves and our world, BenchSci considers the work and commitment to DEI to be a collective responsibility. Not only is it the right thing to do for our business, it’s the right thing to do—period.”
Liran Belenzon, CEO, BenchSci
ESG Resources Center