Vancouver’s Active Impact Investments has closed its oversubscribed second fund at $54 million, making the firm one of the fastest growing environmental impact venture capital companies in Canada.
Active Impact Investments is a Certified B Corp with a mission is to support environmental sustainability through profitable investment. With two limited partnership funds with over $64 million in assets under management, the venture capital firm provides funds and talent to accelerate the growth of early-stage climate tech companies with $200K to $3 million in revenue and significant growth potential.
The second close includes a diverse group of institutional investors including: Fondaction pension fund, Vancity, the University of Victoria’s working capital fund, Hamilton Community Foundation and several clients of Genus Capital Management.
Active Impact Investments plans to add at least another 14 companies to its portfolio that are capable of achieving venture scale and profitability while solving the most urgent environmental issues. The firm has already made its first Fund II investment in Encycle, a software technology company focused on helping commercial and industrial customers dramatically improve the efficiency of their HVAC systems using artificial intelligence-based services.
The firm’s partners, Mike Winterfield and Tom Boddez left lucrative executive careers a few years ago so they could focus on solving the world’s most pressing environmental challenges.
“Funding these early-stage innovations is not only critical to mitigating climate change, but we firmly believe that it’s also the largest growth investment opportunity of the next decade,” said Mike Winterfield, Managing Partner of Active Impact Investments.
“Over the past couple of years, billions of dollars have flooded into the climate tech sector, but very little of that money is going into the seed stage which means there are incredible innovations that aren’t receiving funding. This is where we come in. Thanks to our investors, we have the opportunity to address this gap in the market by providing funding and operational expertise to the next wave of innovators across North America to accelerate climate solutions. With our second fund, we now have the scale and resources to really make a difference – and we’re just getting started.”