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UVic invests $500,000 in Indigenous-enterprises fund

A fund that invests in ­Indigenous enterprises received a $500,000 shot in the arm this week as the University of Victoria made its first investment under its new responsible investment policy.
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The Coast Capital Savings Innovation Centre at UVic will offer scholarships, seed money for new ventures and prototype developments and student co-op jobs.

A fund that invests in ­Indigenous enterprises received a $500,000 shot in the arm this week as the University of Victoria made its first investment under its new responsible investment policy.

The Raven Indigenous Impact Fund, which provides investments of between $250,000 and $2 million to Indigenous enterprises that can make an impact, was launched in 2019 on the Lower Mainland.

“This investment enables UVic to support Indigenous-led social enterprise and promote the development of financial tools that address critical social, financing and policy barriers,” said UVic treasurer Andrew Coward. “By investing in Raven, this is the first step UVic has taken to align our investments with our strategic framework.”

Paul Lacerte, managing partner of Raven Capital, said pairing UVic’s investment with a robust Gustavson School case study — exploring the ­challenges faced by Indigenous entrepreneurs in securing traditional sources of capital — and ongoing student engagement will demonstrate how reciprocity can be a key feature of economic reconciliation with First Nations.