The RBC Generator, the impact investing arm of RBCs Social Finance Initiative, has invested $1 million in the Vancouver-based Renewal3 Investment Fund. Renewal3 invests in early-growth stage companies in Canada and the U.S. focused on organic and natural food, green products and environmental innovation. Renewal3 has identified these areas as high growth and demand, and critical to a sustainable society.
Todays announcement is part of RBCs multi-million dollar social finance initiative, designed to help drive social and environmental change through private investment activity. This commitment includes the $10 million RBC Generator a pool of RBC capital designed to finance enterprises addressing social and environmental challenges a $10 million investment of RBC Foundation assets into socially responsible investment funds, and the development of strategic partnerships to catalyze the growth of social finance in Canada.
Renewal3 will invest in companies with $1 to $20 million dollars in annual revenue in sectors traditionally underserved by venture capital funds. Renewal3 will provide patient capital, partnering with investee companies for five to seven years.
RBC’s investment will help Renewal3 fund businesses that provide:
The RBC Social Finance Initiative builds on RBCs strong and longstanding
reputation for leadership and innovation in finance, business, corporate
citizenship and public policy. RBC is recognised among the world's financial,
social and environmental leaders and is listed on the 2012-2013 Dow Jones
Sustainability World Index, the DJSI North American Index, the Jantzi
Social Index and the FTSE4Good Index. For more information, visit www.rbc.com/socialfinance.