I have mentioned my friend Justin Label, one of the partners at Bessemer Ventures, before. Among other things he writes the Venture Again Blog. Bessemer is a highly respected old line Silicon Valley venture capital firm. They have been an active investor in cleantech for a while, and are backers of Miasole as well as SV Solar. I found myself on a plane recently with one his colleagues, Ted Lin. But more than their investments, Ted was describing to me a new carbon friendly initiative that Bessemer itself is undertaking internally.
Their logic is simple, if they are investing in cleantech because they believe in being part of the global warming solution, not only making money, then they should practice what they preach. While still early days, they are targeting both their power and travel usage, and expect they will likely implement an internal reduction plan as well as purchasing offsets.
I asked Ted where this came from, and he said this initiative has come down from the top of the firm. It makes sense, and it is good to see the activity happening. My hat is off to them.
Ted also pointed out that Bessemer is also going to be buying offsets for their smaller portfolio companies (those under 50 people). “The goal is that when these companies grow into bigger companies and leave the nest, they will continue the tradition. We want them (our portfolio companies) to lead the next generation environmentally responsible enterprises.”
One of the things he did ask, did I know any good offset providers, because as with any venture capitalist, they are looking for the “best of breed”. So if you are interested in helping Bessemer email Ted at Ted@bvp.com.
Neal Dikeman is a founding partner at Jane Capital Partners LLC, a boutique merchant bank advising strategic investors and startups in cleantech. He is founding contributor of Cleantech Blog, a Contributing Editor to Alt Energy Stocks, and a blogger for CNET’s Green tech blog.