When Fortune first started putting together its annual Change the World list in 2015, it was big business that dominated. After all, corporations had the billion-dollar budgets that seemed best poised for tackling the world’s health, climate, and social problems.
But big data and technological advancements have made it possible for even the smallest companies to make a big impact. Last year was proof of that. Fortune’s 2022 Change the World list—which spotlights companies that are making strides to tackle climate change, public health crises, gender and racial inequities, and lack of economic opportunity—featured nine venture-backed startups. And 18 out of 54 of those companies had less than $1 billion in revenue, as my colleague Matt Heimer reported at the time. Last year’s list included Zipline, backed by Andreessen Horowitz, which delivers vaccines across West Africa, and KarmSolar, which develops solar energy for Egyptian farms and businesses to use instead of diesel fuel. And SoftBank-backed Alto Pharmacy is automating outdated prescription systems.
That’s why we are calling out Term Sheet readers to nominate companies for next year’s list. Which companies are using the creative tools of business to help the planet and tackle society’s unmet needs—and trying to turn a profit in the process?
We are currently accepting nominations until July 31. You can nominate a company (or your own) by using this Google form, and if you have any questions about the process, please send them to changetheworld@fortune.com.
A full list of last year’s honorees can be found here.
Hello from Park City…The Term Sheet team is out in Utah this week for Fortune Brainstorm Tech, and as you read this I’ll be hitting the mountain biking trails. Today attendees will be hearing from former Vice President Al Gore, Mercury cofounder and CEO Immad Akhund (Mercury is a Term Sheet sponsor), Anthropic cofounder and CEO Dario Amodei, and Dr. Arati Prabhakar, director of the White House Office of Science and Technology, among others. We’ll be bringing you the highlights of this week’s conference in Term Sheet, so stay tuned.
See you tomorrow,
Jessica Mathews
Twitter: @jessicakmathews
Email: jessica.mathews@fortune.com
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Jackson Fordyce curated the deals section of today’s newsletter.
VENTURE DEALS
– Battery Smart, a New Delhi, India-based battery swapping network for electric two- and three-wheelers, raised $33 million in pre-Series B funding. Tiger Global, Blume Ventures, The Ecosystem Integrity Fund, and British International Investment invested in the round.
– DataGalaxy, a Lyon, France-based data knowledge platform, raised $10 million in seed funding. AV8 Ventures led the round and was joined by Orange Ventures, NewFund, and Evolem.
– Weflow, a Berlin-based pipeline management and forecasting platform, raised $3.2 million in seed funding. Gradient Ventures led the round and was joined by Cherry Ventures, Hello World, and other angels.
PRIVATE EQUITY
– Addison Capital Partners recapitalized Communication Power Companies, a Hauppauge, New York-based amplifier manufacturer. Financial terms were disclosed.
– ADQ and the Bank of Montreal agreed to acquire a minority stake in Sagard, a Montreal-based alternative asset management firm. Great-West Lifeco has agreed to increase its existing minority stake. Financial terms were not disclosed.
– Imperial Dade, backed by Advent International, acquired Atlantis Packaging, a Wilmington, N.C.-based food service packaging supplies and janitorial supplies provider. Financial terms were not disclosed.
– KKR agreed to acquire a majority stake in PangeaCo, and the existing fiber optic networks of Peru-based Telefónica del Perú and Entel Perú. Financial terms were not disclosed.
IPOS
– Birkenstock, a Neustadt, Germany- and Novato, Calif.-based shoe manufacturer, is weighing an initial public offering that could raise about $6 billion, according to Bloomberg. L Catterton backs the company.
FUNDS + FUNDS OF FUNDS
– Notion Capital, a London-based venture capital firm, raised €300 million ($329 million) for a fund focused on early-stage European business software companies.
PEOPLE
– Bregal Sagemount, a New York-based private equity firm, promoted Will Breskman to principal.
– Notion Capital, a London-based venture capital firm, promoted Itxaso del Palacio to general partner, and Stephanie Opdam and Kamil Mieczakowski to partner.
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