Investors' Circle Philadelphia Invests in United By Blue
Impact investing network backs apparel company that cleans up waterways
July 16, 2013 /3BL Media/ - Investors’ Circle Philadelphia (IC Philly) is excited to announce a $525,000 investment in Philadelphia-based retailer United By Blue. United By Blue sells shirts, bags and accessories that are manufactured in an eco-friendly manner. For every product sold, United By Blue removes one pound of trash from oceans and waterways through company-organized cleanups.
"Raising money through Investors Circle was a perfect alignment of United By Blue's social and business model” said United By Blue founder Brian Linton. “They provided strong support for not only the way we generate revenue, but also what we do for the environment. Our business is built on the very simple, but often overlooked, model of using the power of business to solve some of the world's pressing environmental issues. Investors Circle did not overlook this."
This investment is IC Philly’s eighth since its launch as Investors’ Circle’s first local network in 2011. In 2012, IC Philly led 5 investments of the 30 total investments led by Investors’ Circle nationally. In 2012, the national organization’s members invested over $12 million in 29 impact companies around the world.
“Investors Circle saw potential for significant growth in this company, as UBB had already doubled its store count year over year for two consecutive years and has real potential to double its top line revenue for 2013,” said Investors’ Circle member Kendra Brill. “Moreover, ICP has a great deal of confidence, in Brian Linton, as a capable and thoughtful CEO.
About Investors’ Circle Philadelphia
IC Philly is the first local network of Investors’ Circle, the oldest, largest and most successful early-stage impact investing network in the world. Together with hundreds of angels, venture capitalists, foundations and family offices, Investors’ Circle has facilitated the flow of $172 million into 273 enterprises dedicated to improving the environment, education, health and community. For more information, visit http://investorscircle.net/philly .
About United By Blue
United By Blue is a Philadelphia-based organic apparel and accessories company. For every product sold, UBB removes one pound of garbage from our world’s oceans and waterways. Each cleanup involves thousands of volunteers and has resulted in the removal of many thousands of pounds of garbage. For more information, visit http://www.unitedbyblue.com/.