47 European Families Join Forces to Create Unique Impact Investment Cooperative
Pymwymic, Europe’s oldest impact investing group today announced a breakthrough of investing capital for good. With the successful close of a €10 million first financing round, 47 members of European families have joined the new Pymwymic Impact Investing Cooperative. Pymwymic (“Put Your Money Where Your Meaning Is Community”) is leading a new era in impact investing, pioneering a model of the new economy and on a mission to positively impact 1 billion lives over the next 10 years. Through its first fund, Healthy Ecosystems Impact Fund, Pymwymic is proud to also announce its first investment, a significant stake in the certified B-Corp, Fairphone.
‘The launch of the Pymwymic Coop spotlights a new era, one where European families who used to invest independently can now work together to accelerate impact investing solutions,’ said Jan van Oord, the chairman of the Pymwymic Coop Supervisory Board. ‘We build on a great history with Pymwymic, and now make a leap forward with this new structure for more impact and to further catalyse patient capital.’ The first landmark of the Coop, the Healthy Ecosystems Impact Fund, targets innovative and disruptive business models conserving and restoring our ecosystems.
The Pymwymic Coop simultaneously announced its first investment. It has invested a significant stake in Fairphone, a certified B-Corp based in Amsterdam. Fairphone’s mission is to create a fairer electronics industry: they uncover and address issues in the value chain and use transparency to set off debate about what is truly fair. ‘By making a smartphone that is more ethical and built to last, we set an example for the entire industry as well as increase consumer awareness. Step-by-step, we’re are raising the bar to increase responsibly sourced minerals and improve labour conditions on factory floors,’ said Bas van Abel, CEO of Fairphone. ‘We know the Pymwymic families are mission-aligned investors who believe in our goals.’
Pymwymic builds on 23 years of experience in impact investing, and took part in growing that financial field. The community launched some of the most recognisable success stories of impact investing in Europe, including Ben & Jerry’s, SnappCar and Aqua-Spark, amongst others. Pymwymic has entered into a second generation, successfully navigating the transition from the founders, Frank and Margaret van Beuningen, to the new ownership circle that includes multi-generations of European families. Building on the arising global trend of millennial involvement in investing for good, Pymwymic’s Next-Gen group is active and involved in steering the Coop. ‘You will see many initiatives now start to label themselves as impact getting on the new bandwagon.’ says Rogier Pieterse, managing director at Pymwymic, who himself has experience in both traditional and impact finance. ‘But look at the DNA. The way we build the new era of Pymwymic, the families and generations involved, the values and impact metrics we must achieve, and the model of profit with purpose – this truly is the real thing.’
Although the Pymwymic Coop membership list is mostly private, Pymwymic includes recognizable family names such as Van Beuningen, Van Oord, Brenninkmeijer and many more. ‘The new owners of the Pymwymic platform represent families from various countries, who aim to use their wealth wisely, while creating both positive financial as well as impact returns’ said Pieterse. ‘And while these families share values and ambitions creating impact by investing, they have different nationality, gender, age and wealth. This makes the Pymwymic Coop even stronger as a community’ added by Maarten van Dam, managing director at Pymwymic.
For more information or a personal interview with the management and/or founders, please contact Ms Chapman at firstname.lastname@example.org.
Dutch – PDF
English – PDF