Inside Paul Miller's Pioneering 'Tech for Good' VC Investment Strategy (#032)
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In this episode, I speak with Paul Miller, Managing Partner and CEO at Bethnal Green Ventures, which has invested in over 150 startups that aim to create a more sustainable planet, an inclusive society, and healthy lives.
Paul is a trailblazer who spearheaded early-stage impact venture capital investing in the early 2010s at a time when this was highly unusual for VCs to do.
He was awarded an Officer of the British Empire award for services to startup investment in 2020.
Miller's early exposure to social and environmental issues, thanks to his parents' activism, laid the foundation for a unique perspective later in his career.
His stint as a policy advisor at Forum for the Future marked a pivotal period, working on sustainability with tech giants like Amazon and Vodafone.
This experience fueled a desire for a more direct impact, leading Miller to venture into the startup scene. In 2006, the School of Everything was born – a groundbreaking attempt to revolutionize adult education.
Around 2012, as the School of Everything continued to pioneer adult education, Miller's focus expanded to co-founding Bethnal Green Ventures. Securing an initial investment of approximately £150,000 from Nesta, a UK foundation, Bethnal Green Ventures took flight.
Google provided office space, and the venture attracted mentors and contacts to nurture the startups. Paul’s venture into impact venture capital with Bethnal Green Ventures was a pioneering move, especially considering the prevailing industry norms around 2012.
At a time when impact investing was in its nascent stages, Paul brought a level of authenticity and maturity to the venture capital landscape.
Today, he'll be taking us through his 'Tech for Good’ approach, investing in early-stage companies aiming for both high growth and positive social or environmental impact.
I hope you enjoy my conversation with Paul as much as I did!
Show notes: https://sri360.com/podcast/paul-miller/
About the SRI 360° Podcast: The SRI 360° Podcast is focused exclusively on sustainable & responsible investing. In each episode, I interview a world-class investor who is an accomplished practitioner from all asset classes.
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Key Takeaways
Intro (00:00)
Paul Miller’s academic and professional background (04:29)
How Bethnal Green Ventures came about (20:18)
Bring a level of authenticity and maturity to venture capital (23:36)
An overview of Bethnal Green Ventures (29:33)
Tech for Good Concept (32:22)
Theory of Change at Bethnal (35:00)
Impact VC Vs. other impact investing (37:59)
Examples of impact investments by Bethnal (50:09)
Measuring impact at early-stage businesses (58:38)
Role of AI in Tech for Good paradigm (1:08:41)
Additional Resources
Bethnal Green Ventures
Bethnal Green Ventures on LinkedIn
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