At MMC we have made a commitment to those that choose to engage with us — a commitment to be better long-term partners. To be deeply invested in the entrepreneurs and businesses that we back, and to be deeply invested in our own people and the community that we are a part of.
Here we list a few of the ways in which we try to bring that commitment to life. Stay up to date with our efforts by signing up for our newsletter.
Our Commitment… to venture capital as a force for good
When Bruce Macfarlane and Alan Morgan founded MMC Ventures 20 years ago it was because they believed in the power of venture capital as a force for good. That strong sense of purpose and the virtuous circle created by responsible investment remains as true now as ever. We are proud that in our 20th anniversary year, we were awarded our certification as a B Corporation (or B Corp).
Certified B Corps are businesses that meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose. The certification process dug into our practices on pay, recruitment, eco-friendliness, governance, our relationships with our stakeholders - you name it, we've probably had to provide evidence of it.
We hope that by becoming B Corp certified, we can better encourage other companies (whether through the B Corp process or not) to run their businesses ethically and responsibly. We're already helping several MMC portfolio companies on their own B Corp journey and hope to support many more in the future.
MMC portfolio company, Gousto's, B Corp status is one of many reasons Forbes recently described the business as a 'good unicorn.
To learn more about our B Corp journey and our sustainability and fair business goals, read 'Balancing profit and purpose: why MMC became a certified B Corp'.
Our Commitment... to each other
MMC has signed up to #MovingForward, highlighting our commitment to a diverse, inclusive and harassment-free workplace.
MMC is committed to creating an inclusive environment free of discrimination, harassment and bullying, where everyone is treated with dignity and respect. Having an inclusive environment is of benefit for all, creates positive outcomes, leads to better decision-making and allows all to succeed. This extends to our dealings with all people we come across as part of our business activities. Our wish is for everyone to be treated with dignity and respect and to create an environment where all can be heard.
Our full policy and commitment to Dignity for All can be found here.
Our commitment... to the next generation
MMC supports IntoUniversity, a charity that aims to help disadvantaged young people gain a place within higher education.
Research shows that young people from the UK’s most disadvantaged postcode districts are nearly five times less likely to go to university than those in the most advantaged areas, making it harder for them to succeed in a competitive job market and access professional careers.
IntoUniversity works with young people who face challenges in getting to university, providing them with a range of support to help them succeed in school, improve their employability and achieve their ambitions.
FutureVC is an initiative run by DiversityVC to provide training and experience to diverse aspiring VCs.
Initially designed as an in-person internship, the programme has now shifted online in response to the Covid-19 crisis. A number of the MMC team has signed up to be mentors to this cohort of diverse candidates looking to break into the industry and to help them with their journey through FutureVC and beyond.
FutureVC is still looking for VCs at all experience levels to serve as mentors for this cohort. If you think you can help, please sign up.
Our commitment... to understand our impact
We believe that venture capital has the ability to create positive, lasting change in society, particularly by creating new jobs and supporting technological advances. Our portfolio holds many examples of companies which by the very nature of their product, operating model or working style, promote efficiencies and practice which result in a more sustainable world.
We believe that the opportunities created by new technologies will over time generate benefits across society that may mitigate negative impacts arising from their adoption. We aim to enable these benefits while seeking to minimise negative impact arising from any disruption caused by our investment.
MMC seeks excellence in every aspect of our business and we are committed to upholding Environmental, Social and Governance policies as important tenets in our business and in the businesses into which we invest.
We commit to:
- Continuously improve our environmental performance and integrate recognised environmental management best practice into our business operations; always considering the effect of our operations on the community and the environment.
- Reduce our consumption of resources and improve the efficient use of those resources.
- Take environmental responsibility into consideration when assessing potential investments, and not invest in a business which we believe is environmentally irresponsible or negligent.
- Recognise that we must consider a portfolio company’s operations on the community and the environment.
- Ensure environmental, including climate change, criteria are taken into account in the procurement of goods and services.
- Give due consideration to environmental issues and energy performance in the acquisition, design, refurbishment, location and use of buildings.
Sustainable technology and the Circular Economy, which involves maximising value from resources and minimising waste, are sectors in which MMC actively seeks investment opportunities. For example, we have recently invested Qflow, a business positively impacting environmental risk in construction, Unmade, tackling overproduction in the fashion industry and Senseye, addressing wasteful downtime in manufacturing.