Climate change is not just an environmental crisis; it also has far-reaching social and health impacts, particularly affecting vulnerable communities such as women and minorities. Among the 1.3 billion poor in low- and middle-income countries, 70% are women, highlighting the disproportionate burden they bear due to climate-related challenges.
Heatwaves, pollution, flooding, and wildfires exacerbate health issues like anemia, malnutrition, and pregnancy difficulties, further marginalizing these communities. Additionally, research indicates that climate disasters increase the likelihood of physical, sexual, and domestic abuse against women and girls.
In response to these pressing issues, Zoey Dash McKenzie, the founding partner at Public Ventures, has announced the launch of a groundbreaking $100 million impact fund. The fund aims to support life science and clean tech startups with a specific focus on improving health equity and bolstering climate preparedness for underserved communities in Canada.
What sets Public Ventures apart from conventional venture capital firms is its innovative approach to impact investing. The fund adopts a waterfall structure and evaluates each deal on its own merits, ensuring funds are returned to limited partners (LPs) earlier in the process. This approach effectively accelerates capital velocity at the critical early stages of scientific development, when it is needed most.
The initiative arrives amidst a growing interest from venture capital firms in impact funds. Public Ventures joins the ranks of Planeteer, Salesforce Ventures, Positive Ventures, and Envisioning Partners in fostering both large and small impact funds. However, Public Ventures stands out by focusing specifically on Canada. With its world-class hospitals, universities, and research funding, Canada is an ideal hub for driving innovations that address climate-related challenges.
Dash McKenzie's personal journey from studying health and environmental sciences in college to modeling in New York before venturing into a communication SaaS platform brings the fund full circle. Her expertise in various domains positions Public Ventures as a potential catalyst for scaling innovation in Canada.
The fund's mission goes beyond just investing in promising startups; it aims to address systemic challenges in accessing capital and networking, especially for female scientists and individuals from diverse backgrounds. Public Ventures plans to launch a startup venture studio, allowing them to collaborate with such innovators.
When a female scientist or person of color has a groundbreaking research concept, Public Ventures will assemble a roundtable of business and scientific experts to help them develop a commercially viable project. This inclusive approach seeks to level the playing field for underrepresented entrepreneurs, fostering a more diverse and impactful startup ecosystem.
Looking ahead, Public Ventures plans to call for open submissions in the fall to identify exceptional startups beyond their existing networks and invest in them before the end of the year. The fund's commitment to stacking investments for maximum real-world impact emphasizes its dedication to driving meaningful change.
By blending impact investing, climate resilience, and social empowerment, Public Ventures is set to be a transformative force in Canada's startup landscape. The $100 million impact fund carries the potential to drive groundbreaking innovations that not only address climate challenges but also uplift underserved communities and create a more inclusive and sustainable future for all.