British Columbia startups will gain access to a new source of early-stage capital through a co-investment partnership between InBC Investment Corp. and the eFund angel network.
The two organizations are each committing $2 million to the initiative, creating an initial $4 million pool to invest in scalable technology companies based in B.C.
InBC and eFund will invest alongside one another while independently evaluating opportunities and making their own investment decisions. The partnership combines institutional funding with private angel capital, mentorship and industry experience.
“InBC is pleased to co-invest with one of the largest networks of angel investors in Canada to attract private capital to B.C. companies,” said Thomas Park, Chief Investment Officer of InBC.
Park said the initiative supports InBC’s wider strategy of increasing and diversifying the sources of capital available to B.C. businesses, helping startups become scaling companies while strengthening the province’s investment ecosystem.
Established by the provincial government, InBC is a strategic investment fund focused on growing and anchoring innovative companies in British Columbia while generating long-term economic and employment benefits.
eFund is a B.C.-based fund and network comprising more than 200 angel investors. Its platform allows accredited investors to pool capital while connecting entrepreneurs with experienced investors and mentors.
The network has made more than 90 investments in 49 B.C. companies since 2011. Its portfolio has included Aspect Biosystems, Redlen Technologies, VitaminLab and Semios.
“eFund has been investing in B.C. businesses and generating meaningful returns for investors for over 15 years,” said eFund director Thealzel Lee. “We are excited to co-invest with the Province’s strategic investment fund and work with a partner that understands the important role the angel community plays in supporting early-stage founders and transitioning startups into scaleups.”
The partnership is described as one of the first collaborations of its kind in Canada between an angel investment community and an institutional investor.
Claudio Rojas, CEO of the National Angel Capital Organization, said the arrangement could serve as a model for improving Canadian entrepreneurs’ access to domestic capital and expertise.
“At a time when Canadian builders need more homegrown sources of capital at the early stage, this is exactly the kind of collaboration that strengthens our economic resilience,” Rojas said.
To support the new initiative, eFund is also inviting accredited investors to join its network and participate in funding the next generation of B.C. technology companies.
Leave a Reply