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Pledge Ventures celebrates first close of their maiden fund, a novel concept on a mission to power the charitable work of Founders Pledge
London, 21 April 2023

Read more in TechCrunch

Pledge Ventures yesterday announced the first close of its maiden fund, a rules-based venture fund investing in high-growth technology companies whose founders have committed to philanthropy via Founders Pledge. Capital commitments stand at $38 million and with demand for investment increasing, subsequent closings are planned.


Launching in partnership with Founders Pledge, Pledge Ventures aims to drive returns for investors while supporting the nonprofit mission of Founders Pledge. To this end, the fund will donate 85% of carried interest and up to 50% of management fees to the charity, creating a new way for Founders Pledge to fund its operations, build up a long-term capital endowment, and scale its impact.


Speaking at the launch, Managing Director, Ben Gammon, said:

“The enthusiasm for the concept has been overwhelming. Exceeding our target raise in the current environment is a testament to the belief that our LPs have in Pledge Ventures' innovative approach and the Founders Pledge community's commitment to driving positive change.”


The project has been supported by Headline, a leading global Venture Capital fund, and Founding Partner, Andreas Haug, will be Chairing the Pledge Ventures Investment Committee. Welcoming the creation of a new approach to philanthropic impact, Haug said:

“Pledge Ventures is leading the charge to create a new model for venture capital that not only generates returns for investors, but also contributes to the long-term sustainability of charitable work.”


The 1800 Founders Pledge member companies include established names Snyk, Front, and Alan, alongside rising stars Ledgy, Tessian, and Otrium.


Limited Partners include many members of Founders Pledge, meaning a community of successful entrepreneurs are investing in the next generation of founders committed to doing good. 


Taavet Hinrikus, Founder of Wise, said, 

“This group of founders contains some of the most important tech companies of our future. Investing in them gives us a share of their upside and ensures the long term success of Founders Pledge. I'm very excited to anchor this fund.” 

The success of Pledge Ventures' first close has been possible thanks to the support of the Founders Pledge community and the collective commitment to drive positive social impact. As the fund invests in high-growth technology companies led by founders committed to positive change, Pledge Ventures aims to create a new model for venture capital that not only generates returns for investors but also contributes to the long-term sustainability of charitable work. The team looks forward to working closely with Founders Pledge and their partners to bring this vision to life.

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Pledge Ventures Ltd (FRN: 986310) is an Appointed Representative of Kin Capital Partners LLP (registration number OC395229) who is authorised and regulated by the Financial Conduct Authority with FRN: 656789 and whose registered address is Hyde Park House, 5 Manfred Road, London, SW15 2RS.​

©2023 by Pledge Ventures

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