media release
SFU supports Indigenous entrepreneurs, commits to further responsible investing
尤物视频 (SFU) is the first university to invest in the Raven Indigenous Impact Fund (RIIF), a B.C.-based fund supporting Indigenous entrepreneurs.
The $1-million investment, offered through Raven Indigenous Capital Partners, will help Indigenous people overcome the systemic inequalities created through colonization, and is a concrete step towards advancing economic reconciliation.
鈥淪FU has invested $1 million in the Raven Indigenous Impact Fund to support Indigenous entrepreneurs, the Indigenous economy and Indigenous social enterprise,鈥� says SFU Vice-President Finance and Administration, Martin Pochurko. 鈥淲e are counting on this investment to make a difference, both to the Indigenous community and to the SFU endowment fund, which supports researchers and students.鈥�
Created in 2019, the RIIF has supported five Canadian Indigenous enterprises that specialize in digital media, software, fin-tech and natural products. The enterprises are: PLATO Testing, Cheekbone Beauty, VirtualGurus, OneFeather and Animikii Indigenous Technology.
Animikii was the first company to receive an investment through RIIF. Initially turned down by the big banks, the $750,000-equity-investment provided company founder and CEO Jeff Ward with a critical opportunity to move forward with confidence and continue growing his business.
鈥淭he funds allowed us to seize the opportunities that were before us, which involved building out the team, our products and services,鈥� says Ward, who is Ojibwe and M茅tis.
The company has sustained year-over-year revenue growth and has doubled its team in the last year.
鈥淚鈥檓 excited to partner with Raven because they鈥檙e helping me realize my vision of building the Indigenous technology ecosystem at a level we鈥檝e never seen before,鈥� he adds. 鈥淚鈥檓 proud to have been the first investee in their fund and I鈥檓 proud to be among a cohort of really talented and passionate Indigenous entrepreneurs.鈥�
All entrepreneurs considered for investment from the fund are evaluated on four criteria:
- Commercial viability
- Potential for scale
- Indigeneity - management, ownership and governance
- Purpose-driven 鈥� intention to have positive social and/or environmental Indigenous community benefit streams such as upskilling, direct employment, procurement or access to improved goods and services
鈥溣任锸悠碘�檚 commitment to the Raven Indigenous Impact Fund underscores its commitment to advancing economic reconciliation in Canada by supporting innovative, scalable Indigenous enterprises with measurable community benefit streams,鈥� says Stephen Nairne, chief investment officer, Raven Indigenous Capital Partners.
Raven Indigenous Capital Partners has raised $15 million for RIIF with a target of $20 million from investors by close on December 15, 2020.
This month, SFU also signed the new , an initiative coordinated by the Responsible Investment Association (RIA). Signing the agreement is SFU鈥檚 pledge to be accountable, ethical and transparent across investment portfolios and within the organization.
鈥溣任锸悠� is committed to addressing systematic racism and social inequities beyond the classroom,鈥� says SFU President and Vice-Chancellor Joy Johnson. 鈥淏y signing the Canadian Investor Statement on Diversity & Inclusion we are further increasing our efforts to take intentional steps to promote diversity and inclusion across our investment portfolios, and within our organization.鈥�
These announcements build on SFU鈥檚 responsible investment policy since signing on to the United Nations Principles for Responsible Investment (UN PRI) in 2014. In the PRI鈥檚 latest Assessment Report鈥檚 Strategy and Governance scorecard, which measures an institutions鈥� overall approach to responsible investment, SFU scored 29 points out of 30.
In the 2020 fiscal year the SFU endowment will allocate at least $20 million to support research, teaching and learning, and community engagement.
CONTACT:
Melissa Shaw, SFU Communications and Marketing
236.880.3297 melissa_shaw@sfu.ca
Stephen Nairne, Raven Indigenous Capital Partners
604.617.9255 stephennairne@ravencapitalpartners.ca
About 尤物视频:
As Canada鈥檚 engaged university, SFU works with communities, organizations and partners to create, share and embrace knowledge that improves life and generates real change. We deliver a world-class education with lifelong value that shapes change-makers, visionaries and problem-solvers. We connect research and innovation to entrepreneurship and industry to deliver sustainable, relevant solutions to today鈥檚 problems. With campuses in British Columbia鈥檚 three largest cities 鈥� Vancouver, Burnaby and Surrey 鈥� SFU has eight faculties that deliver 193 undergraduate degree programs and 127 graduate degree programs to more than 35,000 students. The university now boasts more than 160,000 alumni residing in 143 countries.