The Caisse de dépôt et placement du Québec and Fondaction are committing $4.5 million to a Canadian venture capital fund dedicated to Black-led businesses.
BKR Capital, formerly known as Black Innovation Capital, is opening an office in Montreal at Espace CDPQ, a venture capital hub created by the Caisse. Launched in 2021, the fund aims to invest in pre-seed and seed-stage Canadian technology companies founded by Black entrepreneurs. It intends to act as a catalyst for entrepreneurial initiatives in technology within Black communities, including those in Quebec, according to a press release.
“BKR Capital offers concrete solutions to a real challenge faced by Black entrepreneurs, which is obtaining financing to start and grow their businesses,” said Wils Theagene, senior director of Equity 253 at the Caisse, in the release. “As investors, we are proud to support the mission of BKR Capital through our commitment to Teralys Capital, to whom we have entrusted the fund management mandate for emerging fund managers.”
In other investment news, the Public Sector Pension Investment Board and its partner Greystar Real Estate Partners are beginning work on a new purpose-built student accommodation in London.
Located near London Bridge rail station, the 39-storey, 453-foot tower will comprise 905 student beds and 15,000 square feet of amenity space. With the groundworks underway, the main construction work is due to start in March, with the opening scheduled for the 2025 academic year.
“In addition to providing state-of-the-art amenities for students from around the world, this purpose-built student accommodation building will incorporate the best sustainability features and will promote activities generating a positive impact on the local communities,” said Stéphane Jalbert, managing director and head of Asia-Pacific and Europe for real estate investments at PSP Investments, in a press release.