B.C.'s new $500 million strategic investment fund
The new fund will be managed by InBC Investment Corp. with oversight from the current Ministry of Jobs, Economic Recovery and Innovation.
The B.C. government quietly launched a $500 million strategic investment fund that will invest in “high growth potential firms, growing and anchoring talent, intellectual property, innovation, investment and jobs in B.C., and driving economic growth in every region.” That’s almost all there is to know, according to a recently published government website.
The money will be managed by InBC Investment Corp., a body set up to “invest in small and medium-sized B.C. companies to help them scale up and reach their highest potential, while generating returns that support a growing economy that benefits all British Columbians.”
What else is there to know?
InBC’s investment decisions will be based on a double bottom line approach. That means delivering commercial returns and achieving priorities that reflect the values and needs of British Columbians. These decisions will be guided by the BC Economic Plan: A Framework for Improving British Columbians’ Standard of Living, and the CleanBC strategy.
Per InBC’s website, the fund “is still in development and it is expected that its investment strategy and criteria will be published during spring 2021.”
UPDATE: A few more details can be found on page 10 of this September 17 backgrounder: Building a Resilient Future