Celebrating 2021 and Ready for 2022
With 2022 well underway here at Purpose Venture Group (PVG), we felt like it was a good time to provide an update on the year that just ended and note a few reasons why we’re excited about the year ahead.
2021 was only our second year in business, yet last year we doubled our annual revenue and tripled the size of the PVG family. The incubation of two new ventures and the growth of our advisory work was only possible because of the team we now have in place. From startups, nonprofits and private equity to political campaigns and management consulting, Elle, Matt, Neel and Tammy bring to our clients a unique set of experiences to accelerate their impact.
Our growth is also an indication of strong market trends: the companies, nonprofits and investors we partner with are increasingly focusing their organizational and financial firepower on the set of issues we care deeply about, from rising temperatures to sources of economic inequality. Our clients aren’t looking for small ways to make a difference or nibble at the edges of these big problems. They are focused on impacting them at scale and it has been exhilarating to run with them, leveraging policy and market dynamics and co-creating innovative strategies that lead to visible and tangible change. A few examples from 2021 include:
- Electrifying everything: PVG played a central role in establishing Rewiring America as the lead organization in the fight to get fossil fuels out of American homes and vehicles. RA is organizing members of Congress, CEOs and mayors across the country around building decarbonization and is rapidly expanding market transformation and movement building capabilities for an even bigger impact in 2022.
- Greater access to solar’s benefits: Two of our clients, Arcadia and PosiGen, continued to expand Americans’ access to clean solar energy this year. Arcadia is doing so as the country’s leading community solar and energy data platform, while PosiGen is focused on providing rooftop solar and energy efficiency upgrades for lower- and middle-income households.
- Changing universities’ responsibility for student debts: In partnership with one of the country’s leading public research universities, we spent 2021 incubating an innovative new venture that will provide tangible debt management and recurring financial support for their alumni. We’re very excited for a public announcement of this game-changing product in 2022 and its potential to become the go-to platform empowering all graduates to advance their careers with financial security and stability.
- Equitable and affordable housing: We worked with Elevate, a champion for clean heat, power, and water for all, to evaluate how to create safer and more comfortable homes for more residents of affordable housing. We also partnered with Avail on their data strategy and hosted a roundtable discussion on the future of the rental housing market, drawing on lessons from the pandemic.
- Creating a more circular economy: Our co-founder served on the board of Trove through their Series D round, as they’ve grown their partnerships with global apparel brands to expand recommerce operations and reduce clothing waste. Our team also helped Sierra Energy model project economics and evaluate footprint expansion for their waste-to-energy technology.
As we look ahead to 2022, we’re doubling down on our commitment to never thinking small, giving up or slowing down. We’re set to kick off several new projects including financing residential electrification and zero-emissions construction in Q1. We are also hiring! This year has begun with renewed public health and political challenges, but we are more optimistic than ever that the builders, doers, thinkers, and investors we partner with can and will accelerate the transition to a cleaner and more equitable future in the year ahead.
From all of us at PVG, we wish you personal, professional and community growth and connection in 2022. Happy New Year!
Ari, Tony and the PVG team