Does ESG actually add any value in VC?

ESG is under fire. Some say it’s “good for the brand” but not foundational to the strategy. Others call it flat-out fraud.

So I wanted to find out:

Is ESG in venture capital just a PR exercise, or can it actually create value?

To unpack this complex topic, I invited Damien Didier, Head of ESG at Daphni, a French VC firm with over €500M AUM and one of the funds that truly walks the talk.

And I’ll be honest: I used to see ESG as a box-ticking exercise.

But after this conversation, I left convinced that when done right, ESG can improve startup performance, strengthen returns, and unlock real impact.

We covered:

What ESG really means in VC (and why most people get it wrong)

Their framework to assess ESG in early-stage startups

Why asking for too much ESG data too early is a mistake

How ESG ties into margins, exit premiums, and long-term value

…and more!

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References:

Daphni - https://www.daphni.com/

Damien Didier - https://www.linkedin.com/in/damien-didier/

ESG Toolbox - The ESG Toolbox by daphni

Time4 - A New Fund to Change the Game!

Les Déterminés - https://www.lesdetermines.fr/

Live4Good - https://www.live-for-good.org/

HEC Incubators

Included VC - https://www.included.vc/

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In this episode, we cover:

(00:00) Introduction

(00:41) ESG in Venture?

(10:24) Is ESG relevant at pre-seed?

(13:14) The S of ESG

(23:04) Implementing ESG

(28:55) The Future of ESG in VC

(31:50) Fire Questions 🔥

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What’s next?👀

This was the last episode before we launch a new format and brand. Stay tuned! 👋

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