The BlueHub Capital Venture Fund began investing in companies with strong prospects for double and triple bottom line returns in the late 1990s.
Zipcar was an early investment for us and a no-brainer: Zipcar seeks to reduce carbon emission through a mainstream car share that ultimately keeps redundant cars off the road. Zipcar was sold to Avis in 2012, resulting in solid financial returns. As Elyse Cherry, BlueHub Capital CEO and Venture Fund President put it, “Financial returns for our investors, social returns for the community—that’s what the Venture Fund was all about.”
Zipcar is still having a positive social and environmental impact. According to their 2020 impact report, up to 13 personally owned cars are taken off the road for each available Zipcar, and car-sharing members reduce their carbon footprint by up to 1,600 pounds per year.