Finance is a means to an end, not an end in itself. This belief is central to our impact investing practice.
Social and environmental issues are complex and can be addressed in multiple and complementary ways. The Foundation has at its disposal an array of tools to support solutions: funding, convening and engaging, investing and more. Finance—through investing—is just one of many options. Our interventions are therefore designed around the following core principles:
Our approach to impact investing aims to tailor interventions to the problem and to increase the range and diversity of people with access to capital.
Our impact investments take inspiration from a vast array of proven financial instruments and innovative impact investing business models. When we design a transaction, we build on existing models and we also innovate. To do so, we take advantage of our ability as a foundation to use both funding and investments at the same time. We can do this during the demonstration or transition phase of a project by piloting a new financial instrument or by scaling a financial model that has had success in one geographic area to have an impact further afield.
By accepting below-market rates of return, or by offering patient capital, thereby delaying the usual expected return, we can achieve long-term impact. We invite every sector and every stakeholder to participate—entrepreneurs, social enterprises, foundations, governments, financial institutions, small businesses and corporations.
Investing for impact means working with aligned stakeholders to agree on a specific purpose of an investment with respect to the social and/or environmental impact it aims to achieve. It means assessing impact risk in addition to financial risk and optimizing both financial and impact returns and rewards.
Our experience so far tells us that there are two essential elements to effective impact investing:
We are particularly interested in mobilizing resources and testing new financial models in the Foundation's focus areas.
We are making a conscious effort to explore impact investment opportunities that accelerate and amplify the impact of our funding. Examples include impact investments in a fund that supports renewable energy projects, exploring the creation of a civic assets fund, collaborating with other foundations to establish a loan guarantee fund for social enterprises, and working with the government and First Nations to launch an Aboriginal Housing Fund. Read our annual Impact Investing Reports to learn more.
This fund focuses on investing in small- to medium-sized expansion-stage private companies that are promoting sustainable solutions in food and agriculture in the North American Market.
Investment:
Private Equity
Real Ventures is an investment platform that supports the entrepreneur-led start-up ecosystem in Montreal. The venture capital Fund invests in early stage companies that embrace the technological opportunity of artificial
Real Ventures is an investment platform that supports the entrepreneur-led start-up ecosystem in Montreal. The venture capital Fund invests in early stage companies that embrace the technological opportunity of artificial intelligence to disrupt existing industries and business models.
Investment:
Private Equity
This fund invests in expansion-phase companies at the forefront of social and environmental innovation in the North American market.
Investment:
Private Equity
This fund invests in expansion-phase companies at the forefront of social and environmental innovation in the North American market.
Investment:
Private Equity
This fund invests in extension-phase companies that provide products, services and technologies that make the design, building or operations of real estate and related infrastructure more energy efficient. Investment: $2,000,000 Private
This fund invests in extension-phase companies that provide products, services and technologies that make the design, building or operations of real estate and related infrastructure more energy efficient.
Investment:
Private Equity
The Fund provides funding and support to Canadian companies pursuing social and environmental outcomes with business models that are scalable.
Investment:
Private Equity
The fund invests a portfolio of renewable power assets, primarily focused on wind and solar in OECD countries. It is an opportunity to participate in the transition to a lower
The fund invests a portfolio of renewable power assets, primarily focused on wind and solar in OECD countries. It is an opportunity to participate in the transition to a lower carbon economy.
Investment:
Infastructure
Area One Farms operates private equity funds in the Canadian farmland sector. They partner with established farm operators to acquire off-market farmland, enabling family farms to expand and improve their
Area One Farms operates private equity funds in the Canadian farmland sector. They partner with established farm operators to acquire off-market farmland, enabling family farms to expand and improve their financial returns while incorporating sustainable practices.
Investment:
Private Equity
MacKinnon, Bennett & Co. is a Montreal-based merchant bank, that structures and manages private investments in the clean technology market. The Fund invests in growth-stage companies in the renewable energy,
MacKinnon, Bennett & Co. is a Montreal-based merchant bank, that structures and manages private investments in the clean technology market. The Fund invests in growth-stage companies in the renewable energy, urban infrastructure, and transportation-related sectors.
Investment:
Private Equity
Cycle Capital is a Private Equity firm financing entrepreneurs with sustainable technology innovations. The Fund invests in commercialization-stage clean technology ventures in the North American market.
Investment:
Private Equity
The Rose Affordable Housing Fund intends to acquire, transform and actively manage affordable, mixed-income and workforce multi-family housing in high-demand, transit-oriented locations in the USA.
Investment:
Private Equity
By developing renewable energy projects and infrastructure across Canada, often investing in partnership with Indigenous communities, Stonebridge’s investments support more resilient
By developing renewable energy projects and infrastructure across Canada, often investing in partnership with Indigenous communities, Stonebridge’s investments support more resilient and lower-carbon communities.
Investment:
Private Debt
Bridges is one of the first fund managers in the world to launch an impact investing fund. The Fund invests in the real estate sector by focusing on
Bridges is one of the first fund managers in the world to launch an impact investing fund. The Fund invests in the real estate sector by focusing on niche markets with high development potential through direct management of corporate assets or joint venture partnerships.
Investment:
Private Equity
Real Ventures is an early-stage venture firm focused on building the Canadian startup ecosystem. They provide stage-specific guidance, mentorship, and access to networks and resources to fast-track founders’
Real Ventures is an early-stage venture firm focused on building the Canadian startup ecosystem. They provide stage-specific guidance, mentorship, and access to networks and resources to fast-track founders’ personal and company growth.
Investment:
Private Equity
Amplify Capital II invests in early-stage, impact focused companies that advance UN Sustainable Development Goals and that have a B
Amplify Capital II invests in early-stage, impact focused companies that advance UN Sustainable Development Goals and that have a B Corp rating for best practices in environmental, social and governance standards.
Investment:
Private Equity
This fund supports non-profits and charities by providing loans and financing that would otherwise be unavailable to small- and medium-sized organizations.
Investment:
Shares in an Evergreen loan fund
This loan guarantee was issued to leverage financing for the organization’s demonstration green building, the first new construction to receive LEED Platinum Certification in Quebec, aiming to inspire everyone from
This loan guarantee was issued to leverage financing for the organization’s demonstration green building, the first new construction to receive LEED Platinum Certification in Quebec, aiming to inspire everyone from property developers to the general public.
Investment:
Loan Guarantee
This fund will support non-profit partners with equity capital to address the critical community need for affordable rental housing, initially, in the Greater Vancouver Area.
Investment:
Private Equity
This debt fund allows housing cooperatives and non-profits to buy buildings and perform necessary renovations to create healthy, safe, and affordable housing for people and families in urban areas. Investment:
This debt fund allows housing cooperatives and non-profits to buy buildings and perform necessary renovations to create healthy, safe, and affordable housing for people and families in urban areas.
Investment:
Private Debt
The New Market Funds Society is a charity with the mission of improving efficiency and effectiveness of charities by developing impact investing products across Canada.
Investment:
Recoverable Grant
Fiducie manages financial tools for the Chantier de l’Economie Sociale. This fund provides debt to student housing co-operatives and not-for-profits to build and operate affordable student housing. Investment: $2 million Private
Fiducie manages financial tools for the Chantier de l’Economie Sociale. This fund provides debt to student housing co-operatives and not-for-profits to build and operate affordable student housing.
Investment:
Private Debt
La Caisse d’Économie Solidaire Desjardins is a financial institution dedicated to non-profits, unions, and social enterprises in Quebec. This loan guarantee program allows the Caisse to provide credit to community
La Caisse d’Économie Solidaire Desjardins is a financial institution dedicated to non-profits, unions, and social enterprises in Quebec. This loan guarantee program allows the Caisse to provide credit to community sector organizations at lower borrowing rates.
Investment:
Direct Loan Guarantee
Fiducie manages financial tools for the Chantier de l’Economie Sociale. This fund provides patient loans to not-for-profit and co-operative housing operators to repair and renovate affordable housing units. Investment: $1
Fiducie manages financial tools for the Chantier de l’Economie Sociale. This fund provides patient loans to not-for-profit and co-operative housing operators to repair and renovate affordable housing units.
Investment:
Private Debt Fund
This Community Bond finances Windmill’s loan capital, enabling the organization to provide additional loans to skilled immigrants and refugees seeking to
This Community Bond finances Windmill’s loan capital, enabling the organization to provide additional loans to skilled immigrants and refugees seeking to continue their careers in Canada and achieve economic prosperity.
Investment:
$750,000
Private Debt
The Fund seeks to revitalize the Indigenous economy in Canada by investing venture capital in early- and growth-stage Indigenous-led enterprises. The
The Fund seeks to revitalize the Indigenous economy in Canada by investing venture capital in early- and growth-stage Indigenous-led enterprises. The manager supports its investees with partnerships, business guidance, and network connections in addition to financial capital.
Investment:
$1 million
Private Equity
Windmill is a real estate company that invests in community assets such as libraries, theatres
Windmill is a real estate company that invests in community assets such as libraries, theatres and churches. It controls and develops mixed-use development and renovation sites in Canada.
Investment:
$10 million
Private Equity
Efficiency Capital offers full-service project management (from scoping to implementation and management) that increases energy efficiency in buildings. Over 20 years, Efficiency Capital forecasts that this work
Efficiency Capital offers full-service project management (from scoping to implementation and management) that increases energy efficiency in buildings. Over 20 years, Efficiency Capital forecasts that this work will help reduce carbon emissions by 300K tonnes.
Investment:
$250,000
Loan
The Fund supports social enterprises in the Ontario local food sector through loans, mentoring and training, enabling them to exist
The Fund supports social enterprises in the Ontario local food sector through loans, mentoring and training, enabling them to exist and grow.
Investment:
$250,000
Loan
Kaleidoscope invests in social real-estate, offers loans for start-ups and business expansion, and other types of financing for individuals wishing
Kaleidoscope invests in social real-estate, offers loans for start-ups and business expansion, and other types of financing for individuals wishing to return to school or work, or those seeking to acquire affordable housing.
Investment:
$250,000
Loan
The Rental Housing Fund II supports permanent affordable rental housing development by acquiring newly constructed or renovated affordable rental housing
The Rental Housing Fund II supports permanent affordable rental housing development by acquiring newly constructed or renovated affordable rental housing developments, or by acquiring for-profit rental properties for conversion to non-profit, charitable, co-operative or government ownership.
Investment:
$2,000,000
Private Equity
Our third annual Impact Investing Report highlights the diversity of approaches with which impact investing managers are using capital to make extraordinary contributions to social and environmental transformation.
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Our second Impact Investing Report provides an overview of our impact investing approach and an update on our efforts to align our investment strategy with our mission.
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Our first annual Impact Investing Report provides an overview of the Foundation’s impact investing portfolio.
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This guide on impact investing is based on the McConnell Foundation's internal due-diligence process and it offers a framework to assess impact and financial risk and return of potential investment [...]
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