The market for recruiting and retaining the best talent remains extremely competitive but we know that success in that area is critical to our overall success as a venture capital firm. We are proud to have retained our Best for the World title for our Worker score, having won it for the first time in 2021, putting us in the top 5% of B Corps in the world for our size.
“Supporting our team and recognising the importance of work-life balance, led us to review and increase our maternity and paternity pay so that all new parents at MMC can have 17 weeks full pay to enjoy these early days. I’m also delighted to say that the first MMC father and baby have already benefitted from this change.”Bruce Macfarlane, Managing Partner, MMC Ventures
A second, important initiative this year is the creation of the MMC Trust. Funded from contributions from MMC and some members of the team, the Trust will be self-sustaining as we invest it into our venture capital investments. Over time it means that the contributions should become a substantial amount of capital. Annual donations will be made to charities and causes nominated by MMC staff and we have already supported homelessness charity Beam, and the Fetal Medicine Foundation.
“MMC colleagues have given 147 hours over the last year to charitable endeavours, many with our sponsored charity IntoUniversity.”
The Trust has also supported another major new initiative, the creation of the MMC Fellowships. It was a pleasure to welcome our first MMC Fellows to our offices this summer. The two undergraduates spent a fortnight with us and a fortnight with our portfolio company Gousto giving them an insight into venture and the importance of technology in a consumer business. It was a highly successful programme which we look forward to repeating. This was as well as our usual two sixth-form work experience visitors from IntoUniversity and our FutureVC intern. The Trust funds the salaries and expenses of these interns.
In the report you can read more about these items, as well as learning about Pact Coffee which is our second portfolio company to achieve B Corp status and how YuLife is addressing ESG risks and opportunities in its business.
We have also set out other objectives and actions that we have achieved this year or hope to achieve over the next 12 months.
Click here to read the full Impact Report.