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AirTree helps fund expansion of FairSupply ESG platform
Australian venture capital firm AirTree Ventures has been advised on its leading role in the Series A capital raise to fund the expansion of FairSupply’s environmental, social and governance (ESG) platform.
Jerome Doraisamy
Firm: Lander & Rogers (AirTree)
Area: Venture capital
Value: $6.3 million capital raise
Key players: The Landers team was led by partner Jared Smith, who was supported by special counsel David Tink and senior associate Jennifer Goh.
Deal significance: Speaking about the investment, Mr Smith said that ESG is a high-growth market as regulators globally crack down on corporate greenwashing.
“Regulators, investors and customers are increasingly demanding greater transparency and reporting from companies in relation to ESG. The capital raise will support FairSupply to expand internationally at a critical juncture in the ESG movement,” he advised.
“We’re delighted to lead AirTree’s capital raise to help FairSupply to accelerate the world’s transition to sustainable supply chains.”
AirTree partner Jackie Vullinghs added that the “doctrine that a business’s only responsibility is to increase profits feels outdated in a world where the long-term environmental and societal impacts of unbridled capitalism cry out from news stories every day”.
“Many investors now demand companies report on their ESG impact; however, to do so, you need data, and it’s still extremely difficult to get objective data across a company’s supply chain,” she said.
However, Ms Vullinghs continued, this is changing.
“FairSupply has mapped over 60 billion global supply chains, uniquely enabling it to identify modern slavery, biodiversity and water-use risks, not just risks associated with carbon emissions.”
Jerome Doraisamy
Jerome Doraisamy is the editor of Lawyers Weekly. A former lawyer, he has worked at Momentum Media as a journalist on Lawyers Weekly since February 2018, and has served as editor since March 2022. He is also the host of all five shows under The Lawyers Weekly Podcast Network, and has overseen the brand's audio medium growth from 4,000 downloads per month to over 60,000 downloads per month, making The Lawyers Weekly Show the most popular industry-specific podcast in Australia. Jerome is also the author of The Wellness Doctrines book series, an admitted solicitor in NSW, and a board director of Minds Count.
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