For a dozen years, SJF Ventures has backed companies with the dual goals of delivering the hefty returns venture capitalists want and benefiting the environment or low-income communities. The Durham, N.C., venture firm has invested in companies such as eRecyclingCorps, a cell phone recycler that recently got a $35 million follow-on round led by Kleiner Perkins.
SJF is in the process of raising a new $75 million fund that will be larger than its first two funds combined. That’s partly because it just got the U.S. government’s imprimatur as the first national “impact investment” fund under a year-old effort by the White House to steer money to companies that do good.
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