VYLD
Must knows
Impact enterprise – Biotech - Berlin – 2021 - Start-up - large funding in steward-ownership
Invented a financial structure recognized as equity on a balance sheet but still with capped returns, independence, and no exits. They named it the Future Profit Partnership Agreement (FPPA)
VYLD is developing radically sustainable, ocean-friendly and healthy products from seaweed, starting with period products. Vyld’s ‘algaeverse’, a universe of sustainable seaweed based products, is a trailblazer for a circular economy in accordance with nature. Ines Schiller founded Vyld in the steward-ownership model, to reflect Vyld’s profit-for-purpose orientation legally binding in the company structure.
“It just makes sense to not only have great, sustainable products, but also have a great and sustainable company and financial structure”
Ines Schiller, founder & steward-owner
Vyld has three types of shares:
1) Golden share (A share): Safeguarding by Purpose Foundation
A golden share with 1 percent of the voting rights (veto right) ensures compliance with the steward-ownership principles in the statutes. This is the control mechanism.
2) Steward shares (B shares): Employees make decisions
Shares with voting rights but without dividend rights or participation in liquidation proceeds. This is the governance mechanism.
3) Founder shares (C shares): Shares with capped economic rights but without voting rights will be held only by the founders, Ines and Melanie, for their founder's compensation. C-Shares will cease to exist once the founders are compensated in full.
Read more about the case of VYLD,
Case study by Purpose Foundation.
A blog by Post Growth Guide
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