The TELUS Pollinator Fund for Good is celebrating its one-year anniversary by announcing three new investments in purpose-driven companies across North America.
Within just 12 months, the $100-million fund has amplified TELUS’ commitment to social capitalism and invested in 10 exciting companies that are making a difference in communities.
As part of the anniversary celebration, the Pollinator Fund is also launching its inaugural impact report highlighting achievements and funding commitments over the last year.
According to the report, the fund invested nearly $20 million in new, responsible, and sustainable businesses with 60 per cent of businesses based in Canada.
The fund did its part in advancing diversity, equity, and inclusion with 50 per cent of portfolio companies are led by Indigenous and racialized people and 40 per cent of portfolio companies are led by women.
“Our TELUS Pollinator Fund for Good builds on TELUS’ legacy of leveraging our globally leading technology, coupled with our human ingenuity, to invest in new start-up businesses that are both enabling better social outcomes in the communities where we live, work and serve, as well as achieving strong economic returns,” said Darren Entwistle, President and CEO, TELUS.
“Over the past year, our Pollinator Fund has invested nearly $20 million in 10 companies led by some of North America’s most inspiring and visionary entrepreneurs focused on innovation that promotes better mental and physical health, greater social equity, a safer food supply and a greener planet. Indeed, as we celebrate our first year, we are proud of the impact the Fund is having on pollinating business innovation, creating a catalytic effect on social capitalism and inspiring the next generation of responsible businesses.”
The TELUS Pollinator Fund has already invested in new startup businesses including EliteGamingLIVE, Fresh City Farms, Pocket Naloxone, Raven Indigenous Capital Partners, Windmill Microlending, Tidal Vision, and Rhiza Capital.
“As we celebrate the one-year anniversary of the Pollinator Fund, I want to thank the founders, our partners, and the wider investment community for their collaboration and belief in our thoughtful approach to investing in innovation at an early stage,” said Jill Schnarr, Chief Social Innovation Officer, TELUS.
“In 12 short months, we’ve made excellent progress, grown our team, and look forward to scaling our impact in the years to come as we seek new opportunities to partner with diverse founders of companies driven by both profit and purpose.”
The Pollinator Fund has already been recognized for excellence in social responsibility – not only through the investments across North America, but also by being awarded with the Clean50 Awards Top Project award, and being named a finalist for the Reuters Business Awards for Social Impact.