Export Development Canada has invested in the second climate technology fund of Active Impact Investments, a Canadian environmental impact venture capital firm. Fund II, closed earlier this year at about C$54 million, has with the additional commitment reached its hard-cap of C$60 million. To date, it has backed three companies, Encycle, EnPowered and RailVision Analytics, and will invest in at least 12 more.
Vancouver, BC, Oct. 26, 2021 (GLOBE NEWSWIRE) — Active Impact Investments has added financial Crown corporation, Export Development Canada (EDC) to its Fund II limited partners. With shared values of helping Canadian companies succeed in global markets, and increasing support to Canada’s cleantech sector, this valued partnership will strategically advance the companies’ joint mission of supporting the fight against climate change. EDC and Active Impact are already co-invested in five companies and will be working more closely with this expanded partnership to profitably deliver environmental solutions.
After announcing the final fund closing in June at an oversubscribed $54.12M, Active Impact turned away a number of interested investors, but the aligned mission, strategic value and familiarity of EDC presented a significant opportunity for Active Impact and their stakeholders. EDC is now the firm’s largest investor with $5.88M committed — bringing the fund to its legal maximum of $60M.
Active Impact Investments has already made three portfolio investments from Fund II into Canadian climate tech companies, Encycle, EnPowered and RailVision Analytics. The Fund plans to add at least 12 more Canadian and United States based companies to the portfolio that make significant positive impact in their verticals: clean energy & transportation, smart infrastructure, sustainable food & water, and circular & sharing economy.
“We’re thrilled to have EDC’s support, which will add tremendous value to our portfolio companies as they scale their climate solutions around the world,” said Mike Winterfield, Active Impact Investments Founder and Managing Partner. “We’ve seen their team in action in our portfolio companies in recent years. They work fast, bring immediate value and have proven to be great partners every step of the way.”
“The climate tech fund will help high-potential Canadian companies to scale, providing them with the capital they need to produce solutions that will enable a lower carbon future,” said John Pires, Head of Investments, EDC. “This valued partnership is a true testament to Canadian collaboration on innovation and sustainability, and we look forward to seeing the positive impact these portfolio investments will make in their respective sectors.”