InBC announces first investments into venture funds to support entre-preneurs driving climate action
December 13, 2022
InBC Investment Corp. (InBC) announced its first investments into venture capital funds aligned with its triple bottom line mandate to consider people, planet and profit. InBC is a provincial Crown corporation with $500 million to invest in venture capital funds and growing small and medium-sized businesses to benefit British Columbians.
InBC has invested into three B.C.-based funds, including Evok Innovations, to drive climate action, reconciliation and innovation alongside financial returns. Investing in venture capital funds, pooled investments providing financing to emerging businesses, is the first step in the launch of InBC’s overall investment strategy.
“Supporting innovative ideas is crucial to growing our economy and creating more sustainable, good-paying jobs for British Columbians,” said Brenda Bailey, Minister of Jobs, Economic Development and Innovation. “InBC is an important part of our StrongerBC Economic Plan that will help move B.C. forward as we build a stronger, more resilient economy that works for everyone.”