Inclusive Capital Partners

What they do

Inclusive Capital Partners was established in 2020 by veteran activist investor Jeff Ubben after he left ValueAct Capital. The firm was designed to prove that "impact investing" could generate superior returns in public markets by actively engaging with corporate boards to improve their environmental and social performance. Unlike typical ESG funds that passively screen stocks, In-Cap took concentrated, large stakes in companies and worked from the inside to transition them toward sustainability. Despite high-profile campaigns, the firm struggled with fundraising and poor performance from key holdings, leading to its closure in late 2023.

What they look for

The firm believed that environmental and social value creation drives long-term shareholder returns. Rather than avoiding polluting industries, In-Cap specifically targeted them to force a transition to cleaner technologies. Their strategy involved constructive activism, taking board seats and working collaboratively with management, focusing on companies where ESG improvements could unlock valuation premiums.

Stage

Series B+

Sectors

Climate, Food and agriculture, Edtech, Deeptech, Mobility and logistics

Based

San Francisco, US