Angel Investors Point to the Stars
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November 16, 2009
WASHINGTON – A group of "angel investors" meets today in Washington, D.C., to salute companies that have found a different way to do business — a way in which everyone can win.
Deb Parsons is the co-director of the country's largest such group, Investors' Circle, made up of individuals willing to loan money to promising entrepreneurs who show a dual commitment: to financial success, and to the needs of employees, suppliers, communities and the environment.
"They're looking at, not just the shareholder, but also all of their stakeholders and how they have a positive impact on that whole group."
GroSolar is on the group's "IC-20" list, the index of 20 business "stars" being honored at the event for their socially responsible business practices. The company supplies solar electricity and hot water systems. Its chief financial officer, Jamie Resor, says solar energy wasn’t always the darling of the investment world. At first, when those most interested in the technology were inspired by a desire to improve the environment, they relied on angel investors with similar interests to grow their companies.
"A lot of people who got into solar energy in the beginning were very committed to the objective of clean energy, energy self-sufficiency, decreasing reliance on oil."
HonestTea, which brews and bottles organic tea products, is another company that made the IC-20 list. Founder Seth Goldman says he also depended on Investors' Circle funding to get his company off the ground.
"It was healthy that we were able to tell investors in the beginning what we stood for, with a commitment to sustainability, and healthier products and fair trade relationships."
This year's IC-20 list includes a diverse range of companies, from makers of countertops to natural foods purveyors. (The complete list can be viewed online at www.investorscircle.net.)
Parsons says the group hopes to inspire more companies to implement socially responsible business models, as well as encouraging greater numbers of investors to get involved. It's about making money in a way that's fair to all players, she says. And, in this age of news headlines about pyramid schemes and real estate scams, the idea is as refreshing…as organic tea.
The Investors' Circle conference runs through Tuesday, November 17, at the Willard InterContinental in Washington, D.C.