Maveron became a certified B Corp in May 2021, formalizing a value it calls “Profit + Purpose.” The venture capital firm’s co-founder Dan Levitan argued that companies should take a larger role in addressing social problems—and encouraged other investment firms and companies to consider certification too.
Why Maveron pursued B Corp certification
Maveron was co-founded by Dan Levitan and Howard Schultz. In a July 15, 2021 report, GeekWire connected the firm’s decision to its existing “Profit + Purpose” value: Maveron wanted to make its commitment to responsible business more explicit, rather than treating purpose as separate from making money.
Levitan said, “The role of companies and doing the right thing is more important than ever.” Maveron principal Natalie Dillon described the firm’s view this way: “We very much believe that profit and purpose can sit side-by-side and not compromise one another.”
That is an aspiration and rationale, not proof that certification itself improves investment returns. The available account does not establish that B Corp status caused better financial performance.
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What B Corp certification assesses
B Lab describes B Corp Certification as an assessment and verification of a company’s social, environmental and governance impact against B Lab Standards. Its scope is the company overall, not simply a product or a single initiative. The current directory places Maveron in “Equity investing – Developed Markets.”
Certification should not be confused with a claim that every portfolio company is certified or that every investment meets the same impact criteria. It applies to the certified company and its assessed practices. B Lab says companies applying from 2026 will certify against version 2.1 of its standards; that current standard should not be assumed to describe the process Maveron completed in 2021.
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What the process involved at Maveron
GeekWire reported that Maveron’s certification process involved hundreds of questions about areas including legal structure, decision-making, employee and customer demographics, and environmental impact. Partner Pete McCormick called the work “a pretty heavy lift.” The report does not quantify the firm’s cost or the time required.
The effort illustrates why certification is more than adopting a public statement of values: a firm needs to examine and document how it operates across multiple areas. The exact assessment and requirements depend on the standards applicable when a company applies, as well as its jurisdiction and organizational circumstances.
Maveron’s reported related efforts and invitation
In its 2021 report, GeekWire also described Maveron’s participation in Diversity Riders and its donation of a portion of carried-interest profits to causes including social justice. Those efforts were reported alongside the firm’s certification, but they are not a substitute for the company-wide assessment B Lab describes.
Levitan urged other companies and investment firms to consider the same path. He said: “If Maveron, other VCs, and other portfolio companies unite around a different set of business principles with a higher commitment to other things besides just making the most money they can for their constituencies, then collectively the U.S. and the world will be better off.”
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Maveron’s certification status and scores
B Lab’s directory lists Maveron LLC as certified since May 2021. The profile currently lists an overall B Impact Score of 96.7, compared with 50.9 for the median ordinary business. It also records a score of 89.2 for Maveron in 2021. The 96.7 and 50.9 figures are current directory values accessed October 7, 2026; scores and profile details can change, so they should be read as a dated snapshot rather than permanent results.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What another investment firm should weigh
Maveron’s example offers a starting point, not a universal checklist or a guarantee that every firm will face the same work. Before pursuing certification, an investment firm should consider:
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- The applicable standard: Confirm which B Lab Standards apply at the time of application; standards can change.
- Legal and governance implications: Identify changes, if any, required for the firm’s jurisdiction and organizational structure.
- Information and implementation effort: Be prepared to gather evidence across the company’s operations and address areas where its practices need improvement. Maveron’s reported questionnaire was substantial, but its burden cannot be generalized into a universal cost or timeline.
- Scope of the claim: Be precise about what certification covers. A certified investment firm’s status does not by itself certify its portfolio companies or establish the impact of every investment.
For Maveron, certification gave formal expression to a stated belief that purpose and profit can coexist. For another firm, the practical question is whether it is prepared to assess and substantiate that commitment across its own business.
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