For Dave Fanger, building an in-house startup was labor of love.
“It was a nights and weekends passion of mine,” said Fanger, CEO of Swell, the impact investing platform owned by Newport Beach, California-based insurer Pacific Life. “We were looking for asset managers to acquire, but I didn’t see anything out there that was addressing the values I was looking for.”
For Fanger, finding partners who were committed to sustainability was important. So six years ago, he teamed up with a colleague and decided to launch Swell — but instead of creating a startup from scratch, he decided to do so from within Pacific Life. As venture capital funding becomes harder to come by, corporate-incubated startups may become more common. For Swell, maintaining the “separateness” of the startup entity is a critical driver of success.
More in Marketing
Apple finally explains its Safari block, and identity companies are in its sights
As Apple spells out its case for blocking identity companies in Safari, its job board shows an ads business with big plans.
Ad Tech Briefing: Can flipping the ad auction wrest control of ad tech from Google?
Prebid wants to change one of the key fundamentals of ad tech.
Target bets on buzzy TikTok brands like Mellow Sleep to revamp its home category
This fall, there’s been a steady drumbeat of new brands launching in the big-box retailer’s home category.