Toronto Foundation

About the fund

Realize Fund I is a Canadian fund-of-funds that provides capital to impact-focused fund managers operating across Canada, supporting the government's social finance market-building objectives. The fund closed at $276.7 million, combining $135 million in government anchor investment with $141.7 million in private capital, and has deployed $111 million across 23 underlying funds. The fund's investment thesis emphasizes economic opportunity and inclusion, community development, and equity and representation, with particular focus on Indigenous communities, local economies, and small and medium-sized enterprise development. Portfolio managers include Raven Indigenous Capital Partners, Thrive Impact Fund, and Regenerative Capital Group. The fund attracted significant participation from first-time fund-of-funds investors, making it a relevant vehicle for institutional investors and foundations seeking exposure to Canada's emerging social finance ecosystem.