Today's News |
InBC Investment Corporation Releases Investment Policy Statement, Expects to Start Investing its $500 Million VC Fund This Fall
Thursday, October 6, 2022Company Profile | Follow Company
InBC releases investment policy statement for its $500 million fund, expects to start investing in venture capital funds this fall and in businesses by spring 2023
Victoria, BC, October 6, 2022--(T-Net)--InBC Investment Corp (InBC), the Province's newest Crown corporation, announced today that it is now open for business and has launched its investment policy statement.
Developed through the StrongerBC Economic Plan, the Province is providing InBC with $500 million to invest in venture capital funds and growing companies that demonstrate a measurable impact in driving climate action, innovating for the future, advancing reconciliation and elevating inclusive communities in B.C.
InBC's investment policy statement is intended to guide decision-making to support a stronger, more resilient economy for British Columbians, according to the organization.
"Fostering innovative ideas and solutions is crucial to growing our economy, and creating more sustainable, inclusive and quality jobs and opportunities for British Columbians," said Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation. "InBC investments are about optimizing not just financial returns, but also generating social, economic and environmental returns for generations to come."
With its investment policy statement launched, InBC expects to start investing in venture capital funds this fall and in businesses by spring 2023.
"We are a strategic investment fund that focuses on valuing people, planet and profit as part of our decision-making process and long-term impact," said Jill Earthy, chief executive officer, InBC. "Our purpose is to catalyze a more sustainable and inclusive future for B.C. through investment in innovation of both traditional and emerging sectors."
InBC's investment policy statement will guide its investment decisions and priorities. It outlines policies, values and the corporation's triple-bottom-line mandate to support people, profit and the planet.
InBC investments will be a patient, long-term source of capital to better support B.C. companies, create good jobs and develop inclusive, innovative technologies, products and services, according to the company.
With this innovative strategy, InBC says it will influence positive systemic change by incorporating diversity, equity and inclusion, as well as environmental, social and governance values into every investment decision.
The creation of InBC is part of the StrongerBC Economic Plan, which moves B.C. forward by tackling the challenges of today while growing an economy that works for everyone.
"InBC will invest in opportunities that align with our triple-bottom-line approach to develop an inclusive and sustainable economy. We look for funds and companies that have a strong connection to British Columbia, can demonstrate measurable social and environmental impact and have the potential to deliver risk-adjusted market returns." said Leah Nguyen, chief investment officer, InBC.
Quick Facts:
Learn More:
Groups interested in engaging with InBC can learn more and apply online: www.inbcinvestment.ca
To read the investment policy statement, visit: https://www.inbcinvestment.ca/corporate-reports/
To register for the InBC public information sessions to be held on Oct. 12 and 13, 2022, visit:
https://www.inbcinvestment.ca/investment-policy-statement-online-information-sessions/
To learn more about the creation of InBC, visit: www.news.gov.bc.ca/24304
For more about the StrongerBC Economic Plan, visit: www.strongerbc.gov.bc.ca/plan
Company Snapshot |
||
Victoria (Government)
|
Other Recent Company News |
|||||||||||||||||||
|