Vancouver-based Genus Capital Management Inc. and Toronto-based Social Venture Connexion (SVX) on Thursday announced the launch of Genus-SVX Impact Investment Counsel, a strategic partnership designed to address the challenges faced by organizations and high net worth individuals (HNWIs) in becoming impact investors.
The partnership seeks to mobilize $100 million in capital toward impact investments by 2020, the organizations say in a joint news release. Genus-SVX Impact Investment Counsel is designed for foundations, HNWIs, charities, endowments and pension funds, with a minimum of $2 million in assets.
“Many organizations and HNWIs want to use their investments to create positive social and environmental impact, but they often have finite time and experience, and there are limited options on the market for them,” JP Harrison, president of Genus Capital, in a statement. “With the Impact Investment Counsel, we’re offering a comprehensive solution ― giving investors the sourcing support and due diligence of SVX, with the financial analysis and diversified portfolio building of Genus Capital.”
The impact investing space is among the fastest growing in Canada, having doubled in size from $114 billion in 2016 to $228 billion in 2017, according to a report from the Responsible Investment Association. Research conducted by SVX in 2017 found the vast majority of Canadian HNWIs are interested in impact investing, with 89.8% of all those surveyed expressing some degree of interest in impact investing.
“We’ve moved towards a world where individuals and institutions want to put their money to work for good, and they want to generate strong returns while doing so,” says Adam Spence, Director of SVX, in a statement. “By teaming up with Genus to launch the Impact Investment Counsel, we’re able to deliver on both of those objectives.”