Small logo Subscribe to leading news on impact investing. Learn More
The Brief Originals Dealflow Signals The Impact Alpha Impact Voices Podcasts Agents of Impact Open
What's Next Capital on the Frontier Measure Better Investing in Racial Equity Beyond Trade-offs Impact en las Americas New Revivalists
Local and Inclusive Climate Finance Catalytic Capital Frontier Finance Best Practices Geographies
Slack Agent of Impact Calls Events Contribute
The Archive ImpactSpace The Accelerator Selection Tool Network Map
About Us FAQ Calendar Pricing and Payment Policy Privacy Policy Terms of Service Agreement Contact Us
Locavesting Entrepreneurship Gender Smart Return on Inclusion Good Jobs Creative economy Opportunity Zones Investing in place Housing New Schooled Well Being People on the Move Faith and investing Inclusive Fintech
Clean Energy Farmer Finance Soil Wealth Conservation Finance Financing Fish
Innovative Finance
Personal Finance Impact Management
Africa Asia Europe Latin America Middle East Oceania/Australia China Canada India United Kingdom United States
Subscribe
Features
Series
Themes
Community
Data
Subscribe Log In
More

Renewal Funds closes third impact fund at $109 million



ImpactAlpha, September 30 – Vancouver-based impact investor Renewal Funds has been investing in environmental technology and sustainable consumer products since it launched its first fund in 2008. The firm has raised C$145 million ($109 million) to accelerate investing in early stage companies. 

Renewal focuses on sectors that even impact investors tend to avoid, like public transportation tech.

“We find many funds are adverse to investing in companies working with municipalities because the sales’ cycle is so long. But when you get it, you have a really good, sticky customer. That’s our approach,” Renewal’s Paul Richardson tells ImpactAlpha.

The new fund, Renewal4, has already invested in San Francisco-based Swiftly, which makes software for public transit planning, as well as Toronto-based Opus, which helps utilities link rooftop solar and wind into the grid, and Montreal-based snack company Prana. 

Energy and water solutions as well as sustainable consumer products are other focus areas for Renewal. On the consumer products side, Renewal was an early investor in Seventh Generation, now owned by Unilever, and alternative protein company Sweet Earth, now under Nestlé. The firm looks for opportunities that lean more toward “good for the planet” than “good for the person,” Richardson explains. “We tend to look for organic companies that are sensitive to their carbon footprint and packaging story.”

Renewal4 has backed Montreal-based snack company Prana.

Renewal Funds originated in 2008 from Renewal Partners, a Canadian family office. It has C$240 million in assets under management.

You might also like...