North Vancouver’s Active Impact Investments announces $70 million committed for its third fund

The VC firm has had zero write-offs from its first two funds

Active Impact Investments, Canada’s largest climate tech seed fund, today announced that it has raised more than $70M in commitments for its third fund, moving the firm closer to its ultimate goal of $120 million.

Building off its first two funds, the third fund will continue to invest in early-stage, private companies across North America that are capable of achieving venture scale and profitability while solving urgent environmental issues.

Founder and managing partner Mike Winterfield says that Active Impact’s “repeatable, proprietary process” for vetting founders has helped it grow to 10 employees and 31 portfolio companies across North America since 2018. It plans to add another 20 companies with this fund. “We have zero write-offs—[ventures that go out of business]—after over five years of investing in startups,” Winterfield told BCBusiness earlier this year.

Throughout its first two funds, Active Impact has supported a number of B.C.-based companies, including Victoria’s Othersphere, a green commodity production planning software and Vancouver-based companies Hyfluence (integrated hydrogen fuelling infrastructure and ChopValue, industrial-scale upcycling of used chopsticks.

To date, the firm has mitigated over 550,000 tonnes of CO2e, with the goal of mitigating 1,000,000 tonnes of CO2e by the end of the year.