Women’s Equity Lab partners with BDC’s $100M Thrive Lab

Plus, Victoria's living wage goes up 4.6%, and federal investments are incoming to Island tech.

Now, onto today’s briefing. It’s 759 words, a three-minute read.

Women’s Equity Lab partners with BDC’s $100M Thrive Lab

Last week, BDC announced 25 partners across Canada with which it will co-invest up to $35 million in businesses at the earliest stages of development: the area in which they face the most challenges in fundraising.

Among those partners is Women’s Equity Lab (WEL), a group founded in Victoria in 2017 that is now comprised of over 150 female investors from around the world.

WEL’s investing model was created to address the chronic and systemic underrepresentation of women in early-stage investing. With funds operating across Canada and Silicon Valley, WEL has completed more than 35 investments over the last five years.

Each WEL group has its own investment thesis and connects closely with the businesses in their region. WEL’s portfolio companies not only receive capital, but gain access to a network of women advisors, connectors, and champions.

For BDC’s part, investments will be made through its Thrive Lab, a $100-million project intended to provide equity and equity-like investments, plus training and support, for at least 100 women-led businesses tackling social issues.

“Working together, our goal is to ensure each [portfolio] company is surrounded by a strong syndicate of partners,” said Sévrine Labelle, managing director of Thrive Lab. “Partners who are fully committed to ensuring each company has the capital and resources required to succeed financially and deliver the positive social impact they intended. Ultimately, the Thrive Lab will build a pipeline of future female leaders who will redefine what good investing and entrepreneurship looks like.”


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📰 More Victoria innovation news

🏠 Don’t turn off the lights: The federal government announced investments in innovation to advance energy efficiency in buildings, with two Victoria organizations set to benefit:

🤝 It takes two: Global communications tech company Zetron partnered with Victoria’s BestHuman (formerly Locelle) to launch an internal leadership program.

💸 Busy earnin’: Victoria’s Community Social Planning Council released its annual Greater Victoria Living Wage Report. According to the report, Victoria’s living wage has risen by 4.6 percent to $25.40 per hour.

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