What the Project Is
Investing For Change comes to life through Renewal Funds—a sustainability-focused impact venture capital fund that supports exceptional founders building technology and platform businesses to drive the affordability and accessibility of climate solutions. Based in Vancouver, Canada, Renewal Funds operates in a realm where capital, venture, and seed investing meet sustainability, working with investors who are passionate about creating a cleaner, safer, and more resilient future. Renewal Funds invests across five primary sustainability themes, including Energy Transition, Mobility, Food Systems, Zero Waste, and Natural Resources. The approach is all about backing mission-aligned founders in their journey to develop high-impact companies that not only demonstrate excellent product-market fit and customer traction, but also drive positive change in the world.
Main Benefit
The benefit of this initiative resonates through key figures and facts that highlight the depth and breadth of the fund’s reach:
- Sustainability Themes: Energy Transition, Mobility, Food Systems, Zero Waste, and Natural Resources.
- Investment Approach: Minority preferred equity investments focused on high-growth, capital-efficient businesses.
- Fund Size and History: Vancouver-based Renewal Funds manages $240 million AUM with three funds—Renewal2 ($35 million, 2010), Renewal3 ($63 million, 2014), and Renewal4 ($145 million, 2019).
- Industry Recognition: Consistently recognized for impact investing, including accolades such as ImpactAssets50, B Corp Best for the World, GIIRS Best for the World Funds, and inclusion in Croatan Institutes’ Divest-Invest Clean Fifteen.
- Key Keywords: renewal, impact investing, investor, investment, financial services, fund, seventh generation, private equity, capital, venture, seed, vancouver, canada, CAN, renewal 2, renewal2, renewal3, renewal 3, renewal4, renewal 4.
Investment Approach and Strategy
Renewal Funds makes minority preferred equity investments in high-growth companies. The approach revolves around partnering with founders who have built category-leading companies that already show excellent product-market fit. There is a clear focus on capital efficiency—an essential ingredient for companies aiming to scale sustainably. It’s a strategy that balances cautious financial stewardship with bold, mission-driven investments. The funding approach is direct and pragmatic… always with sustainability in mind, ensuring each investment plays a role in shaping a better future for food, water, and climate innovation.
History and Milestones
The genesis of Renewal Funds can be traced back to 2008, when Paul Richardson and Joel Solomon co-founded the fund with support from Carol Newell. Their collaboration, which originally began at Carol’s pioneering family office, Renewal Partners, led to investments in over 40 mission-based businesses. Notable successes include early backing of pioneers like Stonyfield Farm (organic yogurt) and Seventh Generation (sustainable household and personal care products). Over time, the founding team grew to include Mike Cormack and Nicole Bradbury, and under the leadership of Managing Partner Paul Richardson, they successfully raised multiple funds—Renewal2 in 2010, Renewal3 in 2014, and Renewal4 in 2019. The milestone achievements not only repositioned the fund in the environmental impact investment space but also set the stage for sustained growth and innovation.
Industry Leadership and Impact Initiatives
Industry leadership is central to what Renewal Funds stands for. The project has been a catalytic force within the impact investing ecosystem, helping to develop and refine the tools needed for quantifying, monitoring, and reporting impact. Pioneering efforts include the Global Impact Investment Ratings System (GIIRS) launched in 2012 and active participation in initiatives such as the ESG Data Convergence Initiative, the Task Force on Climate-Related Financial Disclosures (TCFD), and the Impact Capital Managers Network. The initiative constantly sets benchmarks by engaging with a community focused on sustainable and responsible investment practices. It’s a testament to how smart investing can go hand in hand with sustainable development.
Financial Stewardship and Growth
The financial journey of Renewal Funds is both a story of resilience and pioneering vision. With a firm grip on financial services in the venture and private equity space, the project administers capital that is geared toward unlocking new opportunities within the sustainability landscape. With investments ranging from seed funding to later-stage capital, Renewal Funds continues to empower companies to reach their full potential while contributing to environmental progress. The dynamic nature of the fund has allowed it to remain flexible in a competitive investment environment while staying true to its mission of creating positive, lasting change.
Project Impact
- SDG 7: Affordable and Clean Energy
- SDG 9: Industry, Innovation and Infrastructure
- SDG 11: Sustainable Cities and Communities
- SDG 12: Responsible Consumption and Production
- SDG 13: Climate Action
Future Outlook and Legacy
The outlook for Renewal Funds is as forward-thinking as its investment strategy. With a keen focus on advancing sustainability, the fund continuously redefines the paradigms of impact investing in the developed markets industry. While every investment is measured by its financial returns, there is equal importance placed on the broader impact on climate, food, water, and natural resources—essential pillars of the future. The narrative of Renewal Funds feels personal… transforming capital into positive change. With industry accolades that support a robust B Corp score of 129, this project stands as a testament to visionary leadership and the relentless pursuit of both profitability and responsible investment. The legacy is clear: when investing and impact come together, the world benefits. The journey continues, promising to inspire more mission-driven investments in sustainability and change across Vancouver, Canada, and beyond.
