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
What does the Omnicom-IPG deal mean for marketing pitches and reviews?
Pitch consultants predict how the potential holdco acquisition could impact media and creative reviews heading into the new year.
AdTechChat organizers manage grievances amid fallout of controversial Xmas party
Community organizers voice regret over divisive entertainment act at London-hosted industry party, which tops a list of grievances.
X tries to win back advertisers with self-reported video stats
Is X’s big bet on video real growth or just a number’s game?