Investeco, Canada’s first environmental investment company just announced it has closed its Sustainable Food Fund, with Canadian foundations as lead investors.
Completing its final close in January, the Investeco Sustainable Food Fund was led by foundations such as The J.W. McConnell Family Foundation, The Harbinger Foundation, the Inspirit Foundation, The Metcalf Foundation and Tides Canada Foundation.
With lead investors like these socially minded organizations, Investeco says that this shows a trend of “impact investors” becoming more interested in projects that provide high financial and social returns in the ag space.
“The Canadian foundation community is beginning to more actively seek and support investments that drive social and environmental impact while providing financial returns,” says Stephen Huddart, president and CEO of The J.W. McConnell Foundation. “This is something that was called for by the Social Finance Task Force in 2010. Now it is becoming part of the mainstream, through the leadership of firms like Investeco.”
According to a statement by Investeco, the Sustainable Food Fund will invest in expansion stage companies focusing on food and ag sustainability. The funds will go primarily to Canadian companies.
The first investment will be made to Sun Select, a BC-based sustainable greenhouse company. The Investeco Sustainable Food Fund is a GIIRS rated fund, and Investeco is a registered B Corp.
FEATURED PHOTO: North Charleston/Flickr