Get to know Tom as he shares his vision for British Columbia and what excites him most about serving as InBC’s CIO.

What is your vision for British Columbia and how do you see InBC playing a role?

My vision is to build on British Columbia’s strengths as one of the most innovative economic regions in the world. Despite the economic headwinds and immediate challenges facing the province, I want to see British Columbia coming out economically stronger but still grounded in its values. The role I see InBC playing is to mobilize additional capital and investments in the province.

“My vision is to build on British Columbia’s strengths as one of the most innovative economic regions in the world. Despite the economic headwinds and immediate challenges facing the province, I want to see British Columbia coming out economically stronger but still grounded in its values.”

— Thomas Park, Chief Investment Officer, InBC Investment Corp.

What excites you the most about leading InBC’s next stage of growth?

I’m excited because I feel we have a once in a generation opportunity to really double down on the province’s strengths, whether it’s in technology, developing some of the most innovative companies or reaching new markets. What makes me excited is the opportunity to take the organization, evolve it to the next stage and better support the province.

What has been your proudest career moment?

My proudest career moment was when I was working in West Africa. I worked with local stakeholders, donors and investors to reduce stockouts for contraceptives for women. When I walked in, the stockouts were 85% of the time, out of most modern contraceptives. By the time I left, we designed a system that went down to 0% stockout, so there was 100% access. I’m quite proud of that and that showed the power of mobilizing people to create an impactful but sustainable model.

Your resume includes notable roles at the United Nations, Gates Foundation and other mission-driven organizations. What does impact mean to you?

Impact means systemic change, mobilizing resources and stakeholders to solve a problem in a way that is self-sustaining.

There are two types of ways of looking at impact. One perspective is to seed a lot of different initiatives. Another is to take a few big problems and ask, how do I solve those? When I think about climate or life sciences for example, which are a large part of investments in B.C., I think about where we can have the biggest impacts.

So I think of systemic change. How do we take a small amount of investment comparably and make systemic change sustainably?

You relocated your family to B.C. What are you most excited about being back on the West Coast?

British Columbia has a kind of quiet confidence. It charts its own path, and I find that so fascinating. I think that gives it a lot of strength. It’s made British Columbia more self-reliant. I’m excited about the fact that people think differently here. They live in an amazing part of the world and they’re very proud of it. We used to live in the Pacific Northwest, and we really like the lifestyle, how people think. We love the fact there’s less snow here. We love the diversity. It’s just amazing.

Tell us something we might not know about you.

I was a big X-Files fan when I was a kid. Then I found out it was filmed in Vancouver.

Reading’s my hobby. I’m a voracious reader. I can read for at least 12 hours over two days.

We welcome Tom to the InBC team and are excited to have him leading the next phase of our investment strategy. He is already active in the local entrepreneurial and investment communities. Keep your eyes out for him as he engages with founders, investors and innovation supporters across the province.

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The post Q&A: Get to Know InBC’s Chief Investment Officer Thomas Park appeared first on InBC Investment Corp.

B.C. Signals Strong Progress in Venture Capital and Innovation-led Growth

B.C. is one of the notable leaders in venture capital investments, based on recent reports:

• B.C. recorded its most narrow gap in 2024 with Ontario, in venture capital investments, according to CVCA’s 2024 Canadian Venture Capital Market Overview.
• Its Q1 2025 report revealed that $80 million in deals occurred in our province during the quarter, underscoring investor interest in B.C. innovation.
• BDC’s most recent Canada’s Venture Capital Landscape report found that B.C. came in second for dollars invested in Canadian VC activity, outpacing Québec and almost matching Ontario.

There are growing opportunities in B.C. and Canada to fuel more innovation. To support this continued growth, InBC has committed $177 million to companies across B.C., as well as venture funds that invest in B.C. Our investments highlight the potential to drive substantial progress and innovation in our province.

A Pivotal Moment to Propel Innovation in Canada

The current shift in global order offers various opportunities for our country to create more innovation within our borders. Reducing interprovincial trade barriers and buying Canadian first can support further growth in our markets. As such, InBC is investing in a diverse range of companies in the province to help build a more resilient economy that can withstand global challenges while remaining competitive.

Furthermore, we continue to focus on supporting economic prosperity. Since InBC began investing, we have seen $93 million in gross revenue, along with $205 million in R&D spending generated by B.C. companies. In the past year alone, these companies grew their revenues by 35% and their B.C. employees by 11%. With our wide range of investments, B.C. will have a chance to turn these investments into an advantage through financial returns, talent development and intellectual property creation and retention as well as re-investment opportunities. This supports Canada becoming more economically and innovatively independent.

Accelerating Economic Growth, One Company or Fund at a Time

At InBC, we are targeting high-growth sectors such as life sciences, agritech, climate tech and information and communications technology to increase efficiency in up-and-coming industries and create more jobs for everyone. Our portfolio supports over 1,800 employees across the province. This provides competitive opportunities for local talent and creates employment opportunities in different sectors, from healthcare to clean energy. 

We have witnessed an incredible amount of growth in the companies we’ve invested in so far, including:

• Mangrove Lithium is building North America’s first electrochemical lithium refining plant in the province;
• Svante Technologies recently opened a gigafactory for carbon capture and removal filters in Burnaby;
• 4AG Robotics is creating jobs and supporting the local economy in Salmon Arm, Thompson-Okanagan, and recently expanded with a satellite office in Vancouver;
• ThoughtExchange in the Kootenays is expanding technology, robotics and AI capabilities in urban-rural B.C.;
• Clarius Mobile Health provides support for rural physicians in the province and, in early 2024, opened a new manufacturing facility in Vancouver.

Our province is a leading destination for innovation and entrepreneurship, and at InBC, we are proud to support a thriving business environment for local businesses. B.C.’s innovation potential was highlighted with the recent Web Summit, which welcomed 1,108 startups and 681 investors from around the world. Notably, 44 per cent of the startups at the Summit were founded by women, highlighting the growth in women-led businesses. The province’s ability to develop talent and attract technology and innovation-oriented businesses is a sign that the province has the capability to boost Canada’s reputation as a hub of creativity and innovation.

At InBC, we are focused on creating a future-ready economy that builds sustainable, diversified and resilient industries so that communities across our province can benefit from economic growth. InBC is committed to the province and the country’s well-being.

The future is here, and the time to invest in it is now.

The post InBC: Why We Should Bet on our Province appeared first on InBC Investment Corp.

B.C. boasts more than 150 agritech companies, generating over $500 million in revenue, that address a variety of needs along the agriculture supply chain. In 2021, the Province of B.C. created the Regenerative Agriculture and Agritech Network to help expand best practices for using agritech to enable sustainable farming practices. Just a year ago, the province announced a new B.C. Centre for Agritech Innovation (BCCAI) that connects academia, industry and innovators as a part of the StrongerBC Economic Plan. As a result of this support, the growing agritech sector is well positioned to become a major contributor to socio-economic growth in the province.

What is agritech?

The agriculture sector encompasses activities related to growing or raising crops or livestock. Agriculture is an umbrella term that often includes horticulture and aquaculture. Horticulture refers to the growing of plants on a smaller scale than agriculture such as in gardens or greenhouses, while aquaculture refers to ocean-related areas of production within agriculture.

Agritech encompasses all technology in the agriculture industry that can help to reduce production inputs or improve efficiencies. Agritech can refer to a wide array of technologies, from plant biotechnology to AI and drones for farm management.

The main pillars in the agritech sector are:

How is InBC Investing in agritech?

We recognize that the growth of agritech can contribute significantly to economic development in the province while addressing key agricultural and environmental challenges. Some of the themes under which we are investing in agritech companies include (but are not limited to):

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1. Sustainable and resilient supply chains
(Innovating for the Future)

Addressing vulnerabilities and optimizing processes for greater supply chain efficiency. Companies in this space are enabling food security by working on issues such as increasing yield at lower costs to make end products more accessible and affordable.

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2. Sustainable food and agriculture
(Driving Climate Action)

Minimizing production inputs and harmful outputs in addition to creating innovative and sustainable products. There are many companies in B.C. that are addressing issues such as reducing the use of pesticides and fertilizers while managing water consumption.

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3. Decarbonization technologies
(Driving Climate Action)

Mitigating climate change by reducing or capturing greenhouse gas emissions. Under this investment theme, companies are working on issues such as improving the carbon sequestration properties of soil to decrease the emissions of farming.

Investment into the agritech industry aligns with our impact objectives to drive climate action and innovate for the future.

Investment into the agritech industry aligns with our impact objectives to drive climate action and innovate for the future.

Are you an agritech company?

If you are a growing agritech company in B.C., consider us as an investment partner in your next capital raise. We invest alongside other investors in companies raising a Series A or later round, generating revenue and looking for equity investment to support their scale up. Learn more about our investment criteria and express your interest here:

The post The Importance of Agritech in B.C. appeared first on InBC Investment Corp.

What is ESG?

Environmental, social and governance (ESG) is a framework for helping organizations assess risk and opportunities around issues that can affect a firm’s sustainability. It looks at business activities beyond financial accounting that can potentially impact an organization, and often presents as a scoring system.

ESG can be risk-mitigating. For example, a firm may consider that poor governance might lead to the risk of mismanagement. Or that improper waste disposal might lead to legal risk. In investments, risk assessment involves screening out investment opportunities, such as companies with low standards of labour that risk a retention problem. Using ESG to assess risk considers what a firm stands to lose by not adhering to ESG criteria.

ESG can also present as opportunities. For example, a firm may increase diversity, equity and inclusion to bolster team performance and better reflect the consumer market. Or it may consider investing in a company driving efficiencies in an industry that is traditionally carbon heavy. Using ESG to assess opportunity considers what a firm stands to gain by incorporating ESG practices.

As a standard, most impact investing firms incorporate ESG into their assessment processes. On the other hand, not all firms practicing ESG are impact investors; in fact, ESG investing alone does not necessarily generate impact. Further, the adoption of ESG extends beyond the investment industry; any organization looking to improve sustainability can incorporate ESG into its framework. As such, many firms practicing ESG measure success based on financials first.

What is Impact Investing?

Impact investing is the practice of investing where in addition to financial returns, there is intention to generate measurable social and/or environmental impact. It is a strategy to define the types of investments an investor will make.

Impact investing measures success based on both financial and impact returns. Some investors may even prioritize social and/or environmental benefits so long as financial returns are positive. Impact investors recognize that impact and profit can be interconnected and mutually reinforcing; in this view, impact is not seen as concessionary but rather as a driver of financial performance.

There are a few impact investing principles depending on which standard is referenced, the most widely adopted being the Global Impact Investing Network’s (GIIN) definition which considers:

• Intentionality: there is intent to create positive change
• Return expectation: there is an expectation of financial return on investment alongside social and/or environmental returns
• Range of return expectation and asset classes: there is an expected rate of financial return and targeted investment types
• Impact measurement: there is attempt to measure change

Intentionality, the implicit goal to generate social and/or environmental benefits, generally aligns with one or more goals from global impact frameworks such as the UN Sustainable Development Goals or IRIS+ framework. Intentionality is also the first line of defence against impact-washing, ensuring investments seek to generate solutions rather than simply screening out companies with potentially risky practices.

Some guides to impact investing include another principle: Contribution (or additionality). This principle states that it is not enough to invest in a company creating impact or managing ESG well, but that investments should contribute to the company’s impact, either through financing their growth in the impact areas or by influencing the company to generate impact.

In summary, ESG is concerned with how the external world and the actions of a firm could impact the sustainability of the firm. It is an assessment tool used for long-term planning and building resilient organizations. Impact investing is a strategy considering how a firm can impact the world, by defining the types of investments an investor will make to generate social and/or environmental benefits alongside or as a driver of financial returns.

As a strategic investment fund with a triple bottom line mandate, InBC’s investment strategy both practices impact investing and utilizes ESG criteria in our assessment process (as well as internally in our own operations). Our approach to impact and ESG is informed by global standards and frameworks. To learn more about our investment approach, see our investment strategy overview.

The post ESG vs. Impact Investing appeared first on InBC Investment Corp.

In April 2023, the Government of British Columbia announced its new B.C. Life Sciences and Biomanufacturing Strategy under the StrongerBC Economic Plan, to position B.C. as a global hub for life sciences and biomanufacturing.

Since then, the Province has made several strides in advancing this strategy, including funding health and genome research, investing in new wet lab facilities, announcing the construction of a National Biomanufacturing Training Centre (NBTC), and co-investing alongside the Government of Canada and industry to build new capabilities and infrastructure for drug development and clinical research in B.C.

More recently this month, we had the largest-ever B.C. delegation — led by Life Sciences BC and the Minister of Jobs, Economic Development and Innovation — at the BIO International Convention, one of the world’s largest gathering of biotechnology companies. InBC’s CEO, Jill Earthy, attended as part of the B.C. delegation, to share about InBC and how we are investing in life sciences companies with strong connections to B.C.

Why life sciences in B.C.?

British Columbia is home to the fastest growing life sciences sector in Canada, comprised of over 2,200 companies employing over 19,000 individuals and growing. The COVID-19 pandemic boosted the sector — it accelerated innovation, highlighted its importance and earned B.C. international recognition — and this trend is set to continue. In the market, we can observe a steady increase in venture capital investment in life sciences since 2014.

Despite these promising outlooks, early-stage life sciences companies lack access to the investment capital required for them to scale up compared to companies in traditional industries. Several factors play into this, including the sector’s inherently higher risk (but higher return) profile, the deep technical expertise required for investors to make decisions and the longer than average timeline to profitability and return on investment.

InBC’s role in advancing life sciences in B.C.

As a source of local, long-term capital for B.C.-based companies, InBC has a valuable role to play in addressing this gap to support life sciences innovation in the province. InBC was created by the Government of British Columbia to attract, retain and grow companies, to drive innovation, create quality jobs and retain talent and intellectual property.

Access to local funding is essential to companies staying in the province, to ensure the economic and social benefits they generate benefit British Columbians. Our investment into life sciences companies and venture funds will work in tandem with the priorities of the Province, building on the provincial strategy’s momentum. This collective effort will scale our impact and drive greater growth of the sector in B.C.

How will InBC invest in life sciences?

Investing in life sciences aligns with two of InBC’s four impact objectives. InBC had identified the sector as an investment area under our objective to Innovate for the Future. It also overlaps with several verticals under our impact objective to Elevate Inclusive Communities, such as investing in the care economy, health and well-being for diverse communities, and inclusive and accessible products and solutions.

Early-stage life sciences companies are generally pre-revenue and carry a higher degree of risk. While InBC does consider direct investment into life sciences companies, our investments will primarily be in venture funds who specialize in the sector. These fund managers have the technical expertise and industry knowledge to make well informed investment decisions, and to effectively support the scale-up of the companies in their portfolios.

Life sciences companies and funds seeking investment

Are you an innovative life sciences company, or venture fund who invests in life sciences companies, looking for investment to support your scale up? Learn about our investment criteria and impact objectives and consider submitting your information through our website to be reviewed by our investment team.

The post InBC’s Role in Advancing Life Sciences in B.C. appeared first on InBC Investment Corp.

Why should we support women in business? It’s the right thing to do and it’s the smart thing to do.

According to the Government of Canada, advancing gender equality and women’s participation in the economy could add up to $150 billion in GDP. It is estimated that a 10% increase in female majority owned firms in a decade could boost economic activity by $198 billion. Beyond participation, bridging the revenue gap for women entrepreneurs could unlock an additional $88.2 billion in contribution to the Canadian economy.

Firms with women representation are more profitable. Women board representation is positively related to accounting returns. In venture capital, firms that increased their female partner hires by 10% saw an average 1.5% increase in returns each year, and 9.7% more profitable exits. When women join the C-Suite, firms benefit from a diversity of voices and also become more open to change and less open to risk, improving on sustainability and the ability to adapt to changes such as the current shifting economic conditions.

The value of women’s participation in the economy is clear yet women entrepreneurs continue to face barriers to success.

While women represent half the population in Canada, only 17% of small- and medium-sized businesses are owned by women. Between 2014 and 2019, nearly 90% of venture capital investment deals in Canada went to companies founded exclusively by men. Racialized women in particular experience this barrier profoundly; for example, in a survey of 700 Black women entrepreneurs, 78.5% agreed that access to financing is an obstacle.

Women entrepreneurs face unconscious biases putting them at an unfair disadvantage. Investors are 60% more likely to invest in pitches presented by men than women. Pitches made by women are more heavily judged on presentation than content. Women are more likely to be asked about the potential for losses while men are asked about the potential for gains, leading to funding gap sizes of up to seven times less for women entrepreneurs.

While women in venture capital are more likely to invest in women founders, this support is a double-edged sword. Women-led companies receiving their first round of funding from exclusively women investors are two times less likely to raise a second round of funding. This is due to investor bias assuming women founders backed by women-only investors are less competent regardless of qualifications.

Women in business face unique challenges. For one, they are more likely to be affected by family life, with motherhood leading to career and pay penalties much more so than fatherhood. Women also spend more time doing unpaid labour; in Canada, women spend an average 1.5 times more hours than men doing unpaid work.

Time’s up for bridging the opportunity gap for women entrepreneurs.

Bridging the opportunity gap for women entrepreneurs will create a more equitable society and add immense contributions to our economy. While we still have a long way to go in breaking down barriers for women, there are immediate steps we can all take to continue advancing this progress. For start, we can:

• Support more women in venture capital, who are two times more likely to invest in women founders but make up only 19.4% of partners at venture firms. Firms can also implement Gender Lens Investing (GLI) as a strategy.
• Support more women founders. Startups with at least one women founder go on to hire 2.5 times more women, creating an exponential effect on women’s participation in the economy.
• Commit to gender-balanced organizations by embedding diversity, equity and inclusion (DEI), the Gender-based Analysis Plus lens and 50-30 Challenge into hiring practices.
• Design networking opportunities that welcome and understand women’s backgrounds and business ideas to encourage more women to network and access funding opportunities.
• Establish inclusive environments for business development, including having more diversity on pitch panels and as product evaluators to counter the biases women face in their entrepreneurial journeys.
• Address the unique challenges women in business face and create women-friendly work supports. Better parental leave, access to childcare and reproductive healthcare — while these don’t necessarily address the root causes for why women’s careers are more heavily penalized by starting a family, they certainly do help.
• Conduct more research on women’s entrepreneurship that consider the intersectionality of gender and race. We know racialized women face unique barriers but most research on entrepreneurship thus far have centred around gender or race but not both.

While these are all effective ways to support more women in business, it’s important to note the burden of closing the opportunity gap should not rest just on the shoulders of women. Men need to be allies and participate in creating environments and opportunities for women to equally participate and succeed in the economy.

What InBC is doing to support women in business

InBC is actively working to support more women in business, including women entrepreneurs, investors and more women at the conference table.

We have embedded diversity, equity and inclusion (DEI) from within, and are committed to the 50-30 Challenge and hiring with a Gender-based Analysis Plus lens. The InBC team is proud to be gender-balanced, including women in leadership positions. We have and are building an organization that reflects the diversity in our population and with a range of backgrounds to understand different business models and ideas.

We encourage and share learnings around DEI practices within and outside our portfolio. Each investment we make aligns with at least one of our impact objectives, which include elevating inclusive communities. We also work with the companies and funds in our portfolio to increase the diversity in their organizations and set impact metrics they can report on. We are developing a program to mentor first time fund managers, to increase the number of investors in the province including more women investors.

We partner with and support organizations working in this space, such as The Forum, a Canadian-based charity providing women entrepreneurs with the community and resources they need to thrive in business, Canada51, an organization dedicated to increasing women’s participation in the innovation-driven economy, and Canadian Women in VC, a grassroots organization supporting the professional development of women in venture capital.

We are building an inclusive intake process that is fair and transparent. We want to encourage a diversity of entrepreneurs and companies to submit their ventures to be considered for investment. This includes engaging with underestimated communities through the entrepreneurial and business development ecosystems across all economic regions of the province.

This International Women’s Day, we voice our support for women in business and we encourage you to do the same. #iwd2023 

Learn more about InBC’s impact objectives here.

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Leah’s entrance to the entrepreneurial ecosystem developed at a young age – as early as high school.

“I’ve always been interested in business and entrepreneurship. As a young child, I used to pretend to be a cashier, and in high school I managed the school store,” says Leah. “After finishing my business degree at Simon Fraser University, I started my career in management consulting at Accenture and eventually ended up at TELUS where I helped launch the TELUS Pollinator Fund, a $100 million corporate impact fund that invests in startups that are doing good and driving financial returns.”

Now, with a variety of different career-building experiences under her belt, Leah is our Chief Investment Officer at InBC. Leah is tasked with defining the vision for our investment policy, which outlines what we will invest in, including impact themes and financial objectives. Once our investment policy is approved, her team will then be responsible for sourcing, evaluating and executing investments that align with our triple bottom line mandate.

InBC is an impact investment fund with a triple bottom line mandate, that focuses on valuing people, profit and planet as part of our decision-making process. Leah explains that this means going beyond the financial opportunity to also understand how a company will produce or provide positive social, economic and/or environmental impacts, where purpose and profit are not mutually exclusive.

“It is a common misconception that investing for impact means you’re willing to take concessionary returns,” Leah continues. “In 2020, the Global Impact Investing Network (GIIN) surveyed 1,720 investors and found that 67% look for risk-adjusted market returns, compared to 18% who were look for close to market rate returns, and only 15% were closer to capital preservation. Of these investors, 20% outperformed their returns expectations, and 68% with in line with expectations.”

In addition to the financial analysis of an investment decision, impact investing weighs both the positive and negative externalities associated with investments to assess risks and returns. Historically, one of the challenges has been how to quantify “impact”. However, now, there are a number of global frameworks and standards in place to evaluate this – such as UN Sustainable Development Goals, IMP’s Five Dimensions of Impact, and Global Impact Investing Network’s (GIIN) – which InBC can look to when evaluating its own investment returns.

When asked what inspires Leah and what ultimately led her to her impact investing career with InBC, she replies with “her family.”

“My parents were refugee immigrants from the Vietnam war, and came to Canada with nothing but the clothes on their back, my older sister, and a dream to create a better life for their family. They taught me the value of hard work, resiliency, and gratitude for my community. I recognize the immense opportunities they’ve provided me through their sacrifices, and I want to ensure that I am instilling the same values in my three young children and doing my part to create a better future for my community in the work that I do. I believe that capital can be a force for positive change and am grateful for the opportunity to bring my experience in impact investing to InBC.”

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