Panorama Partners exit profit share given to Charity
RLC is one of the only VC funds in the world taking a 'double-impact' approach. RLC simultaneously back companies aiming to have a positive social impact and we commit to making our own direct impact through our unique venture pledge to charities around the world.
As our Portfolio founders know, RLC's Venture Pledge was introduced to give back to causes close to our founders hearts. Following the completion of each investment, founders are able to nominate a cause or charity they want to support, and if the company successfully exits, a portion of RLC's profits are donated accordingly.
In 2020, Panorama Partners was acquired following a hugely succesful period of growth for Martin and the wider team. When we first invested back in 2016, Martin elected to support Yuva Unstoppable, a charity that works to provide underprivileged children with access to education, sanitation and drinking water.
Following the successful exit, RLC donated £10,000 to Yuva Unstoppable, from which the funds were used to make significant upgrades to a schools facilities and classrooms, located in Indore, India. The school is attended by 236 students.
School Principal, Mr Jagdev Pal, commented on the transformation:
"Initially, the toilets and drinking water facilities in our school were not up to the mark. This caused many students to remain absent due to ill-health. But now sparkling clean, new, and well structured sanitation and drinking water infrastructure has been created in our school with the support from RLC Ventures. Not only this, a separate dishwashing area and smart classroom have also been built, which is excellent. It will help the students study more effectively. We are very hopeful that once the schools resume post lockdown, students in increased numbers will come and attend classes in the smart classroom."
The donated funds were spent primarily on:
Upgrading Sanitation Facilities
Sanitation facilities were not adequately provided, flooring and drainage facilities in the toilets were not in proper condition and these factors both led to a large number of drop outs among girls.
Clean, separate toilet facilities and better washrooms were created at the school for both girls and boys.
Establishing a Dish Washing Room and Repairing and implementing Drinking Water Facilities
Prior to the upgrades, contaminated water was being used for drinking as well as cleaning. There was just one common area allotted to the children for washing their plates and for drinking water. This not only created an unpleasant environment, but it was also a major health issue for the children.
A washing area has been built to reduce congestion. Doing so resulted in far more hygienic conditions for the school children. A separate platform was created which is above the normal ground height for the drinking area.The drinking area has been completely renovated, proper tiling was done and broken taps were repaired.
Installing a Smart Classroom
The school lacked any smart technology or digital learning aids. There was low interest and attendance due to this.
The installation of technology-enabled classrooms led to higher engagement and attendance from the class already.
We are delighted to have given back some of our proceeds and to have supported this important cause.
Martin Grozev, CEO and Founder of BettingMetrics commented:
"I have supported YUVA Unstoppable for many years. It is a charity that is close to my heart and it's a great feeling to know that proceeds from our success will go towards supporting children and education in India."
If you would like to learn more about the Venture Pledge then head to the RLC Ventures Venture Pledge page.