A Vancouver “impact investment” firm has launched a new C$20 million (US$15 million) fund aimed at early-stage Canadian companies innovating in health and the environment.
Spring Impact Capital was co-founded by former Goldman Sachs Asset Management VP, Olivia Hornby, and Keith Ippel and Graham Day, architects of the Spring impact investing network.
“The Spring community has been asking us for years to start an impact fund based on the significant amount of deal flow and the broad network of support that we have,” Ippel said.
“We already have a lot of early interest and believe we can help supply the growing demand for impact investing as well as help fill the gap in the pre-seed and seed market in Canada.”
Spring Impact Capital plans to make its first two investments before year end.
The group says it has been supporting rounds for 10 years. Canadian battery energy storage system producer, Moment Energy, and solar-powered marine robot firm, Open Ocean Robotics, were among 14 former investments.
“The objective is to invest in the type of companies that you want to see leading the future of the next generation,” Day said.
Day cited an “unprecedented opportunity for human and planetary health innovations”.
“With 75 million Boomers in the US expected to retire by 2030, and 23% of the population forecast to be over 65 by 2043, we expect to see an unprecedented demand for healthcare products and services.
“Since 1950, the human population has increased by nearly 200% and never before has humanity’s footprint on Earth’s natural systems been so large.
“Fossil fuel consumption has increased over 550%, nearly half of the temperate and tropical forests are cleared, and about half of the planet’s liveable surface is consumed by agriculture.
“Beyond investments into crucial industries, Spring Impact Capital is also committed to supporting underrepresented founders.”
