The province’s $500-million strategic investment fund has committed between $5 million and $10 million each to Yaletown Partners’s Innovation Growth Fund II, as well as the second funds for Raven Indigenous Capital Partners and Evok Innovations, chief investment officer Leah Nguyen told The Logic. (The Logic)

Talking point: InBC’s mandate focuses on a triple bottom line, taking into account financial returns as well as environmental, economic and social impacts. The three funds selected fit InBC’s criteria, Nguyen said. They are based in the province and contribute to growing its ecosystem, have the potential for financial returns, and “stood out” for their environmental, social and governance and diversity, equity and inclusion practices. They also each aligned with one of InBC’s core areas where it’s looking to make an impact: Evok on climate, Yaletown on economic growth and Raven on reconciliation. InBC had planned to first invest in funds and later make co-investments and direct investments into startups. Nguyen said InBC will continue to review other funds and plans to roll out its direct-investment program in the spring.