In this episode, we discuss Tech for Good concept in the venture capital business with Paul Miller OBE from Bethnal Green Ventures.
Paul has been a pioneer in the Tech for Good movement in the UK since 2008. He was the perfect guest to explain the concept's humble beginnings and chart its evolution. Through BGV’s new fund, they aim to back up to 100 startups over the next four years.
The reality is that the Tech for Good venture market wasn’t the same a decade back. It was practically non-existent. A few investors associated the term with charity, but thankfully, the perception has shifted over time.
We discussed Paul’s inspiration to start BGV, his journey, diversity as a topic in the ecosystem, and portfolio topics, and obviously covered many nuggets for the founders.
One important point—it’s not easy being a Tech for Good venture investor. There is always a mission to prove. BGV has done a remarkable job institutionalizing the process. Their investment selection methodology and impact reports are key for impact measurement in these ventures to build trust and ensure accountability.
It was an insight-packed 50 minutes of recording.
Where to find Ashish Kumar:
• LinkedIn: https://www.linkedin.com/in/paulmiller/
• Website: https://www.bethnalgreenventures.com/
Where to find Rohit Yadav:
Web: https://linktr.ee/rohityadav
LinkedIn: https://www.linkedin.com/in/rohityadav23/
Newsletter: All Things VC (https://www.linkedin.com/newsletters/7081921640367808512/)
In this episode, we cover:
(00:00) Episode Intro
(00:27) Intro: Paul Miller
(00:53) Intro: Bethnal Green Ventures (BGV)
(02:18) The evolution of Tech for Good in the venture business
(04:07) BGV's journey as a Tech for Good investor
(06:52) Challenges and stigmas in Tech for Good
(07:47) Success stories from the portfolio
(10:59) Measuring impact in startups
(14:44) Diversity in the UK ecosystem
(23:41) Founder challenges and solutions
(28:58) Solving for lack of awareness among founders
(34:34) Advice for founders
(38:00) Role of mentors and advisors
(39:52) LP side: How to balance Tech for Good with returns
(44:42) Future of Tech for Good funds
(47:04) Personal musing: Fundraising is like espionage
Referenced:
Portfolio company Aparito (https://www.aparito.com/) which BGV exited in 2024 (https://www.bethnalgreenventures.com/blog/from-bgv-to-successful-exit-aparito)
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