#36 - Damien Didier - Daphni - Does ESG Actually Add Value in VC?

ESG is under fire. Some say it’s “good for the brand” but not foundational to the strategy. Others call it flat-out fraud. So I wanted to find out: Is ESG in venture capital just a PR exercise, or can it actually create value? To unpack this complex topic, I invited Damien Didier, Head of ESG at Daphni, a French VC firm with over €500M AUM and one of the funds that truly walks the talk. And I’ll be honest: I used to see ESG as a box-ticking exercise. But after this conversation, I left convinced that when done right, ESG can improve startup performance, strengthen returns, and unlock real impact. We covered: What ESG really means in VC (and why most people get it wrong) Their framework to assess ESG in early-stage startups Why asking for too much ESG data too early is a mistake How ESG ties into margins, exit premiums, and long-term value …and more! *** References: Daphni - https://www.daphni.com/ Damien Didier - https://www.linkedin.com/in/damien-didier/ ESG Toolbox - The ESG Toolbox by daphni Time4 - A New Fund to Change the Game! Les Déterminés - https://www.lesdetermines.fr/ Live4Good - https://www.live-for-good.org/ HEC Incubators Included VC - https://www.included.vc/ *** In this episode, we cover: (00:00) Introduction (00:41) ESG in Venture? (10:24) Is ESG relevant at pre-seed? (13:14) The S of ESG (23:04) Implementing ESG (28:55) The Future of ESG in VC (31:50) Fire Questions 🔥 *** What’s next?👀 This was the last episode before we launch a new format and brand. Stay tuned! 👋 *** Leave a review✨ Apple Podcasts - https://shorturl.at/HIDcg Spotify - https://shorturl.at/yDTfR This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit newwavenewsletter.substack.com