Quebec’s CAP Finance Social Finance Fund has announced their first funding recipients, totalling $28 million.

The recipients are the Aboriginal Savings Corporation of Canada, BKR Capital, Theia Partners and Fonds Fiducie du Chantier de l’économie sociale.

CAP Finance Social Finance Fund is financed by the Government of Canada’s Social Finance Fund.

The first four investments touch various targets in different universes, including access to affordable housing, climate change, and the energy transition.

They are expected to help accelerate the development of collective entrepreneurship, a funding model that is becoming more popular as Canada’s largest business transfers in decades continues as Boomers retire.

Collective enterprises help make for communities more resiliant because they prevent small and medium-size business from moving, meaning the assets and the benefits stay in the community’s economic circle.

CAP Finance’s investments will also contribute to wealth creation in underrepresented communities through technological entrepreneurship and the training of young Black professionals as investment managers.

Almost 80 per cent of venture firms in Canada don’t have a Black investor on their teams, and only 1 per cent of venture-funded startup founders are Black.

Tell us this made you smarter | Contact us | Report error