Termed a “social impact investing platform,” the company is one of the first VC-backed Public Benefit Corporations and operates by allowing its users to select issues they care about (climate change, LGBTQ rights, you name it) and then builds a custom portfolio to yield returns in alignment with the customers’ personal values. OpenInvest is grown 85 percent since its soft launch last September, so Tech.Co used their seed round announcement as an opportunity to have a chat with OpenInvest CEO and cofounder Conor Murray about just how OpenInvest’s unique approach to socially responsible investing works.
Looking for a Positive Impact
Conor, alongside cofounder Phil Wei, was inspired to start their investing platform after starting with one question: How could they have the biggest positive impact on the society around them?
But Which Values Are the Right Values?
OpenInvest helps investors influence the world using their values. But does the platform embody any values itself? Conor had three of them on hand: “We believe that if we allow people to align their investments with social and environmental issues, we can create a massive driver for positive change.” But could the platform’s values ever be at odds with potential investors’ values? OpenInvest’s goals are an interesting take on the “philanthropreneur” movement: They aim to balance social consciousness with a financial benefit. Their investors are certainly optimistic they’ll succeed: Time will tell if OpenInvest can pull off this approach, but cofounders are definitely fulfilling their original goal: They’re shooting for the biggest positive impact on the world around them. Read more about eco-friendly startups at Tech.Co
