BRK Capital, based in Canada, announced on Monday that it has successfully closed $20 million CAD (approximately $14.5 million USD) for its Fund II, moving closer to its $50 million CAD goal.
The fund aims to invest in high-growth technology ventures led by Black founders, particularly those creating solutions for the future of work, living, and global connectivity. Managing partner Lise Birikundavyi shared insights with TechCrunch, noting that while the primary focus is on Canadian companies, there is openness to select international investments.
The average investment size is expected to range from $250,000 to $1.5 million. Birikundavyi highlighted that nearly 70% of the Black population in Canada consists of first or second-generation immigrants, which positions these founders to access international markets early and gain a competitive edge in scaling their businesses.
Unlike many U.S. firms that hesitate to promote diversity, equity, and inclusion (DEI) initiatives, Birikundavyi believes that Canadian investors are reframing the conversation. She stated that the focus is shifting towards performance while maintaining the same opportunities for investment.
“Expanding access to overlooked founders continues to surface high-quality deals,” she added, emphasizing that this approach is more about finding arbitrage opportunities than just DEI. She noted that inclusive investment is viewed positively within the Canadian ecosystem, offering substantial business potential.
Birikundavyi's firm operates under the belief that diverse experiences and overlooked markets can lead to significant venture opportunities. Since its launch in 2021, BRK Capital raised $22 million for its first fund, which is reportedly outperforming at least 75% of other funds initiated around the same period.
BRK Capital aims to finalize its Fund II by December and plans to invest in 25 companies.
