Impact investing is one of the strategies that allow us, as a private foundation, to better integrate our various financial assets to have a greater impact.

Impact investments are investments made into companies, organizations, and funds with the intention to generate measurable social and environmental impact alongside a financial return (GIIN, 2011).

These investments can be classified in two categories:

Mission-Related Investments (MRI): MRIs are financial investments made in either for-profit or non-profit enterprises with the intent of achieving mission-related objectives and normally earning market-rate financial returns. Financial instruments in this category include bonds and deposits, loans and mezzanine capital, public equity, private equity, and venture capital investments.

Program-Related Investments (PRI): PRIs are investments made to charities as well as for-profit and non-profit enterprises to further the Foundation’s program objectives, but, unlike grants, they also aim to generate financial returns, with a tolerance for below-market returns.

 

Our investments

By 2020, the Foundation expects to meet and exceed its 10% target of total assets invested in impact investments. We are currently targeting investments through intermediaries in the following domains:

Sustainable-Food

Sustainable Food

Health_services

Health and Health Services

Arts_culture

Arts and Culture

Entrepreneurship

Entrepreneurship

Environment

Environment

Affordable-Housing

Affordable Housing

Civic-Assets

Civic Assets

Mulitple-Assets

Multiple Assets

Energy-1

Energy

Water

Water

Indigenious

Indigenous

Our Portfolio

The Foundation’s impact investing portfolio contains a diverse set of transactions with various financial and impact risk and return (IRR) profiles. Expected financial returns range from inflation-adjusted repayment of principal to 20% expected IRR. The end-beneficiaries and targets of our investments are charities, non-profits, for-profit social ventures, for-profit start-ups, projects and even corporations. While our investees may vary, they are all delivering impact and furthering societal transformation on multiple levels and in a number of domains.

Current MRIs

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Investeco: Sustainable Food Trust

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:

$1 million

Private Equity

Real Ventures: Real Investment Fund III

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:

$5 million

Private Equity

Renewal Funds: Renewal 2 Social Trust

This fund invests in expansion-phase companies at the forefront of social and environmental innovation in the North American market.

Investment:

$2,062,280

Private Equity

Renewal Funds: Renewal 3 Social Trust

This fund invests in expansion-phase companies at the forefront of social and environmental innovation in the North American market.

Investment:

$3 million

Private Equity

Greensoil Building Innovation Fund

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:

$2,000,000

Private Equity

MaRS Catalyst Fund: MaRS Catalyst Limited Partnership

The Fund provides funding and support to Canadian companies pursuing social and environmental outcomes with business models that are scalable.

Investment:

$500,000

Private Equity

BlackRock Global Renewable Power Fund II

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:

$10 Million

Infastructure

Area One Farms Fund III

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:

$5 million

Private Equity

MacKinnon, Bennet & Co.

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:

$4 million

Private Equity

Cycle Capital Fund IV

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:

$5 million

Private Equity

Logo for Jonathan Rose Companies

Jonathan Rose – Rose Affordable Housing Preservation Fund V

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:

$15 million

Private Equity

Stonebridge Infrastructure Debt Fund logo

Stonebridge Financial – Infrastructure Debt Fund II

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:

$15 million

Private Debt

Bridges Fund Management logo

Bridges Fund V

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:

$15 million

Private Equity

Real Ventures logo

Real Ventures - Real Investment Fund III L.P.

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:

$5 million

Private Equity

Amplify Capital Logo

Amplify Capital II LP

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:

$5 million

Private Equity

Current PRIs

Community Forward Fund

This fund supports non-profits and charities by providing loans and financing that would otherwise be unavailable to small- and medium-sized organizations.

Investment:

$2 million

Shares in an Evergreen loan fund

Équiterre: Centre for Sustainable Development

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:

$3,095,000

Loan Guarantee

New Market Funds: Affordable Housing Fund 1

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:

$2 million

Private Equity

Le Salon 1861

The Salon 1861 is a real estate project through which the historical St. Joseph’s Church was restored and re-purposed to serve as a co-creation, co-working and event space, fostering economic

The Salon 1861 is a real estate project through which the historical St. Joseph’s Church was restored and re-purposed to serve as a co-creation, co-working and event space, fostering economic development and community integration.

Investment:

$160,000

Private Equity

Fonds Investissement Montreal IV (Batir son quartier)

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:

$1 million

Private Debt

New Market Funds Society

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:

$269,000

Recoverable Grant

Fiducie - Affordable Student Housing Loan Fund I

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:

$2 million

Private Debt

La Caisse d'Économie Solidaire Desjardins - Loan Guarantee Fund

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:

$5 million

Direct Loan Guarantee

Raven Indigenous Capital Partners logo

Raven Capital Partners - Aki Community Outcomes Contract

Aki Energy is an Indigenous-led social enterprise enabling clean energy solutions in remote communities. This recoverable grant, structured through Raven Capital Partners as an intermediary, supports the installation of 26

Aki Energy is an Indigenous-led social enterprise enabling clean energy solutions in remote communities. This recoverable grant, structured through Raven Capital Partners as an intermediary, supports the installation of 26 geothermal units in Fisher River Cree Nation and Peguis First Nation.

Investment:

$250,000

Recoverable grant

Fiducie - Recapitalization Housing Fund

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:

$1 million

Private Debt Fund

Windmill Microlending logo

Windmill Microlending – Community Bond

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:
$7.5 million

 

Private Debt

 

Raven Indigenous Capital Partners logo

Raven Indigenous Capital Partners – Raven Indigenous Impact Fund

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 One Planet Living Real Estate Impact Fund Logo

Windmill One Planet Living Real Estate Impact Fund LP1

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 logo

Efficiency Capital

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

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