Canada’s BKR Capital announced on Monday that its Fund II has secured $20 million CAD (approximately $14.5 million USD), moving closer to its $50 million CAD goal. This fund aims to support “high-growth technology companies led by founders from the Black community, focusing on future work, living, and global connectivity,” according to managing partner Lise Birikundavyi. While primarily targeting Canada, the firm is open to funding select companies internationally, with average investments ranging from $250,000 to $1.5 million.
Birikundavyi noted that nearly 70% of Canada’s Black population consists of first or second-generation immigrants, facilitating founders in building globally from the outset, thus gaining early access to international markets and a competitive edge in scaling.
Unlike many U.S. firms that avoid overtly promoting diversity, equity, and inclusion (DEI) initiatives, Birikundavyi stated that her Toronto-based fund does not share those hesitations. She described Canada’s approach as less of a DEI rollback and more of a performance-focused reframing, where the investment opportunity remains unchanged.
She emphasized that expanding access to underserved founders continues to yield high-quality investment opportunities, making it more about arbitrage investing than DEI. Birikundavyi believes that inclusive investment is still seen as beneficial and potentially profitable by Canadian investors.
The firm’s strategy is based on the belief that “overlooked markets and diverse experiences can lead to significant venture opportunities,” according to Birikundavyi. Launched in 2021, BKR Capital raised $22 million for its first fund, which Birikundavyi claims is outperforming at least 75% of similar funds. The firm aims to finalize its Fund II by December and invest in 25 companies.