InBC Investment Corp (InBC) launched a $500 million strategic investment fund for growing companies and venture capital with priorities to build a more sustainable, inclusive and prosperous future for BC. They must demonstrate measurable impact in climate action, innovation, reconciliation and more. This funding from the provincial government is expected to start by spring 2023.

Quotes:

Leah Nguyen, chief investment officer, InBC

“InBC will invest in opportunities that align with our triple-bottom-line approach to develop an inclusive and sustainable economy. We look for funds and companies that have a strong connection to British Columbia, can demonstrate measurable social and environmental impact and have the potential to deliver risk-adjusted market returns.”

Lesley Esford, executive director, SFU VentureLabs

“We know that successfully starting and growing an innovative business takes the right kind of resources at the right time. SFU VentureLabs works with companies as they scale their commercialization efforts to become profitable and sustainable businesses on a provincial, national, and global scale. We know first-hand that the need for early-stage funding is critical, especially for companies developing science and deep technology products, and are thrilled to see that InBC will be able to provide that support to B.C. entrepreneurs.”

Read the full news release here.