The three B.C.\u002Dbased funds will each be provided between $5 million and $10 million over the next several years.
Leah Nguyen, InBC’s chief investment officer, said the three venture funds were evaluated on their connection to British Columbia and developing local companies, and InBC’s three objectives of climate action, innovation and advancing reconciliation.The province provided $500 million to InBC, which the B.C. government created last spring to invest in venture capital funds and businesses that seek to address environmental and social issues while delivering financial returns.
“Our ability to generate financial returns allows us to then reinvest our capital and continue to do the work we do. And, so, allows us to become an evergreen fund … self-sustaining,” she said. “By providing the capital and the support that Indigenous entrepreneurs require to succeed, we will build a vibrant and resilient Indigenous economy in B.C. that is good for our people and good for the planet,” said Paul Lacerte, managing partner and chief impact officer of Raven Indigenous Capital Partners.Article content
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