Written by Emma Silverman
My mother is a serial entrepreneur. Growing up, I watched her build businesses from the ground up — across fitness, interior design and consumer products. In retrospect, her path was the blueprint for how I wanted to shape my career: I saw my mother’s successes, learned the art of the pivot, watched her shift seamlessly from one project to another as markets and opportunities evolved. It occurred to me as I grew older that all of her ideas had a clear purpose, whether to help people live healthier lives or to make interior design more affordable and accessible. And every single choice she made was in service of these specific goals.
Years later, while studying in college, I had the opportunity to help launch a sustainable fashion startup, and I realized that I, like my mother, had the bug for building. After spending several years at Bain & Company, where I learned from industry leaders how to actually run a business, I dove back into startup land to build consumer brands Flamingo and Truebird. I loved these brands and the products we sold because they impacted and improved our customers’ everyday lives in small but meaningful ways.
I was initially drawn to consumer products by the conviction that the great ones can create positive outcomes for individuals and communities — and they can. But the truth is, every business has the potential to drive impact. I wanted to widen my lens to identify and partner with the purpose-driven people who are imagining a world we aspire to live in, and working to make it a reality. Venture capital is a remarkably effective means of doing just that; I joined TMV because I connected with a group of like-minded people who have shared goals — and the track record to achieve them.
What’s the Purpose?
At TMV, we think a lot about the word “purpose” and what it really means. Frank Cooper III, CMO of BlackRock says it best: “Purpose is singular. It gets to, ‘Why do you exist in the world, beyond making profits?’ and that’s not a list of values or principles. That is a singular statement about who you are, your reason for being, what you stand for.”
While team TMV has been purpose-driven from the start, we believe it is important to clarify exactly what that means to us. As a VC firm, we are committed to delivering strong returns to our investors while improving the lives of people across the globe by investing in brilliant ideas and the exceptional people behind them. These are the founders who possess the strategic know-how, legitimate hustle, fearless questioning, and limitless imagination to bring groundbreaking ideas to life. Their businesses have a positive impact on their customers and communities, whether by developing sustainable solutions, providing access to low-cost / high-quality healthcare, enabling innovation in key industries, providing new skills to the global workforce, or streamlining legacy operations with new technology.
Purpose-Driven Action
TMV is investing in a new generation of companies that are quickly gaining traction, the companies challenging even the most conservative industries to consider new ways of doing business. Some are creating first-to-market models to amplify their sustainability goals: CANOA is the world’s first scaling platform for sustainable design and construction of commercial real estate; Nautilus Labs enables shipowners to optimize fleet operations to reduce emissions; Ridwell makes it easier to use and recycle your stuff. Others provide previously unavailable services to underrepresented communities: Cityblock Health delivers better care to low income patients; Kindbody provides accessible and best-in-class fertility services; Goodr enables companies to redirect food waste to the people who need it. And then there are those focused on lowering the barriers to innovation, making it easier for anyone to build and scale a business: Obviously.ai allows non-technical workers to leverage machine learning without knowing how to code; Mavely makes it easy for creators and entrepreneurs to monetize their communities. The list goes on and on.
The bottom line: at TMV, the word “purpose” represents a thoroughly considered way of doing business. It’s both a lens and a filter through which we identify extraordinary founders, drive returns and build an inclusive company culture. In my time at TMV thus far I have already witnessed remarkable change, from meaningful wins for our early-stage companies to triumphant public offerings (have you heard of FIGS?) and all the hard-earned growth in between. Working at TMV has not only given me experiences like these, but also the fulfillment that comes from meeting brilliant new founders on a daily basis. We all know the old adage: “if you love what you do…”
About TMV
TMV is an early-stage venture firm that invests in purposeful startups reimagining the future.
If you are building an innovative business of the future or if you are an investor who believes in the power of community and operational commitment, we want to hear from you. Find us at hi@tmv.vc
