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Hg invests in Benevity

Hg invests in Benevity – Hg, the manager of HgCapital Trust has announced an investment in Benevity, Inc., a global leader in global corporate purpose cloud software. The terms of the transaction were not disclosed and closing of the transaction is subject to regulatory approvals which are expected in January 2021.

HgCapital Trust will invest approximately £27.3m, with other institutional clients of Hg investing alongside HGT through the Hg Saturn 2 Fund.

Now you are wondering what ‘global corporate purpose cloud software is’.

From the announcement: “ESG (Environment, Social, Governance), corporate purpose and stakeholder capitalism are taking root in companies of all sizes across the globe and as employee, consumer and public expectations grow for business to help solve the complex issues facing society. Benevity’s all-in-one, global platform enables purpose-driven brands to engage these stakeholders in supporting the causes and issues they care about through a database of nearly 2m vetted nonprofit organizations worldwide.

The Benevity platform has driven more than 34m hours in volunteer time and talent, 275,000 positive actions, over one million grants and more than $6bn in donations to date. Benevity’s 650 clients and their 19 million employees support issues ranging from food insecurity, human rights, diversity and inclusion, racial equity, mental health – and everything in between.”

You can visit its website – benevity.com – for more information

HGT : Hg invests in Benevity

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