The Quebec public pension fund manager’s Equity 25-3 will be the country’s largest fund created specifically to leverage diversity to spur development and expansion of small- and medium-sized enterprises (SMEs). In order to qualify for the fund’s investments of between $5 million and $30 million, companies will need to pledge that people of diverse backgrounds make up at least 25 per cent of board, management and shareholding structures. (The Logic)

Talking point: SMEs are arguably ripe for this kind of shot in the arm. While the share of women on boards of larger companies increased by over 50 per cent since 2015, the numbers are significantly lower for TSX-listed small- and medium-cap businesses. One of the main barriers for these businesses is the lack of time and financial wherewithal to devote to diversity and inclusion development, according to a 2019 Institute for Gender and the Economy study.