The Co-operators Group Ltd., based in Guelph, Ont., says it is making good on its promise to increase its focus on impact investing by making a significant investment in InvestEco Sustainable Food Fund II, LP.
Impact investing is an investment approach that seeks to create both financial returns and positive social or environmental impacts, which are measured and reported to stakeholders.
“We are committed to impact investing because we believe that our invested assets can and should not only help us meet our organization’s financial targets, but also our goal of making communities healthier and more sustainable for future generations,” says Bruce West, executive vice-president of finance and chief financial officer at The Co-operators, in a statement released on Tuesday.
InvestEco Capital Corp., a Toronto-based venture capital investment firm, manages the fund, which focuses on high-growth, expansion-stage private companies in North America that promote health and sustainability in the food and agricultural sector. The fund is marketed solely to Canadian accredited investors.
The fund has invested in such companies as Guelph, Ont-based Organic Meadows Inc., which produces organic dairy products, and Toronto-based 100km Foods Inc., which distributes locally grown food throughout Ontario.
“We believe The Co-operators brings real value to our fund through their networks and expertise,” says Andrew Heintzman, CEO and co-founder of InvestEco Capital Corp. “Their focus on investments that are both profitable and also generate social and environmental returns is a perfect fit for our fund.”
The Co-operators announced in April that it would seek to have impact investments represent 6% to 10% of its invested assets by the end of 2018. The firm currently has more than $40 billion in assets under administration.
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