VANCOUVER — The Telus Pollinator Fund for Good is celebrating its one-year anniversary by announcing three new investments in early-stage North American companies focused on social innovation.
The Pollinator Fund, which was launched Nov. 24, 2020, also today highlighted its achievements and funding commitments over the last year by releasing an inaugural impact report.
“Within just 12 months, the $100-million fund has amplified Telus’ commitment to social capitalism and invested in 10 exciting companies that are making a difference in communities,” reads a press release.
The three new investments announced today include:
- Goodmylk, a California-based company “that uses natural, high quality ingredients to create plant-based milk powders and concentrates designed to help sustain a healthy body and lifestyle”;
- Nectar, based in Montreal, which “is working to digitize the beekeeping industry with a solution that improves pollinator health and supports responsible agriculture while positively impacting the environment”; and
- Gotcare, based in Toronto, which “has developed a software solution to efficiently match homecare workers with patients in need, while simultaneously creating higher paying jobs for personal support workers.”
The Telus Pollinator Fund has already invested in EliteGamingLIVE, Fresh City Farms, Pocket Naloxone, Raven Indigenous Capital Partners, Windmill Microlending, Tidal Vision, and Rhiza Capital.
“Our Telus Pollinator Fund for Good builds on Telus’ legacy of leveraging our globally leading technology, coupled with our human ingenuity, to invest in new start-up businesses that are both enabling better social outcomes in the communities where we live, work and serve, as well as achieving strong economic returns,” said Darren Entwistle, president and CEO of Telus, in the press release.
“Over the past year, our Pollinator Fund has invested nearly $20 million in 10 companies led by some of North America’s most inspiring and visionary entrepreneurs focused on innovation that promotes better mental and physical health, greater social equity, a safer food supply and a greener planet,” he said.
“Indeed, as we celebrate our first year, we are proud of the impact the Fund is having on pollinating business innovation, creating a catalytic effect on social capitalism and inspiring the next generation of responsible businesses.”
The fund’s highlights over the last year, as outlined in its impact report (which can be accessed here), include that 60% of the start-up businesses invested in are based in Canada, 40% are led by women, and 50% are led by Indigenous and racialized people.
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Image supplied by Telus.
