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Raven closes over-subscribed $100M venture capital fund to support Indigenous Entrepreneurs
January 30, 2023
COAST SALISH TERRITORY (Vancouver, BC), January 31: Raven Indigenous Capital Partners today announced the final closing of a historic $100M Indigenous venture capital fund that provides patient capital and a community of support to early and growth stage Indigenous enterprises. Backed by some of Canada’s most prominent foundations and financial institutions, Fund II will build on the success of Fund I to invest exclusively in Indigenous enterprises that demonstrate commercial viability, potential for scale, and measurable community benefit streams.
“Investing the time, effort, and funds into Indigenous entrepreneurs and businesses across a variety of sectors creates a tangible impact toward the common goal of a prosperous Indigenous economy,” said CCAB President & CEO, Tabatha Bull. “A big congratulations to Raven Indigenous Capital Partners on reaching their second funding goal. We are incredibly proud to witness the impact this CCAB member is having with other CCAB members.”
Raven’s second fund addresses two critical gaps in the Indigenous finance ecosystem. It provides patient equity and equity-like capital that are essential to the development and scaling of Indigenous enterprises. And, as an Indigenous-led and owned intermediary, Raven offers a culturally grounded and relationship-driven approach to partnership. While Fund II is sector agnostic, investments will be targeted in five thematic areas: information technology/SaaS; climate/clean energy, food sovereignty/regenerative agriculture, health, and next generation consumer products.
“As an early investor in Raven, we are so pleased to see the strong response to Fund II. The team at Raven Indigenous Capital Partners is strengthening Indigenous businesses and communities across North America through impactful supportive relationships and providing opportunities for investors to use capital as a tool for reconciliation. Their thoughtful leadership in economic reconciliation benefits us all. We thank them, said Upkar Arora, CEO, Rally Assets
This is a critical inflection point for both Indigenous Peoples and impact investing that highlights the positive state and growth of the Indigenous economy. Indigenous entrepreneurs are rightfully taking their place at the forefront of the Canadian economy.
“Our hands are raised in gratitude to all our Fund II investors. This is economic reconciliation in action and an implementation of Article 3 of the UN Declaration on the Rights of Indigenous Peoples,” said Paul Lacerte, Managing Partner and Chief Impact Officer, Raven Indigenous Capital Partners. “By providing the capital and the support that Indigenous entrepreneurs require to succeed, we will continue to build innovative and resilient Indigenous economies that are good for our People and good for the planet.” Jeff Cyr, Managing Partner for Raven Capital and CEO of the Raven Indigenous Impact Foundation.
Strategic Communications Manager
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