Tesla Motors Investors Back New Impact Venture Capital Fund

Two heavy hitters in the Impact Economy have a new venture—a $400 million VC fund devoted to financing startup companies that seek to have a positive social or environmental impact.

Nancy Pfund and Ira Ehrenpreis, two early investors in Tesla Motors, are leading the fund, which is part of DBL Partners.

The fund already is financing several start-ups, including businesses focusing on clean energy, reusable materials and job creation in economically depressed areas.

Click here to read more about the fund in the Wall Street Journal.

Fitbit IPO Off to a Strong Start

Fitbit’s initial public offering beat industry projections on the first day of trading Thursday. The company raised $448 million (22.4 million shares), and stockholders sold an additional $284 million (14.2 million shares).

Click here to read more at the Boston Globe.

Fund Good Jobs Receives $1 Million Grant from S.H. Cowell Foundation

Good news for a good cause.

The S.H. Cowell Foundation has awarded Fund Good Jobs with a $1 million Recoverable Grant. This money will help high-need businesses in the Bay Area that are committed to creating good jobs for people who face barriers to employment. Fund Good Jobs and its founding organization, Inner City Advisors, also received a $200,000 operating grant from the S.H. Cowell Foundation.
Fund Good Jobs understands that low-wage, low-skill jobs aren’t sufficient to lift families out of poverty. So the Oakland-based organization works with local entrepreneurs to create better jobs for people who need them.

The S.H. Cowell Foundation works to improve the quality of life of California children living in poverty by providing grants to strengthen families and communities.

Click here to read more about Fund Good Jobs at Forbes.com.

IKEA Pledges More than $1 Billion to Fight Climate Change, Promote Renewable Energy

IKEA is the world’s biggest furniture retailer and across the globe, millions of loyal customers flock to the trademark blue-and-yellow superstores for IKEA’s stylish but practical products.

But the Swedish giant also is committed to building a better planet. Today, IKEA pledged $1.13 billion ($1 billion euros) on renewable energy and investments to help developing nations deal with climate change.

This investment is in addition to the more than $1 billion IKEA has invested in wind and solar power since 2009.

Chief Executive Peter Agnefjall told Reuters that IKEA’s goal is to have a “positive impact on people and the planet.”