What have we been up to? When I began at InBC in April 2022 we were in start-up mode, building a team and an organization from the ground up, and developing our processes and strategies to align with our values to steward positive change, champion inclusivity and with the ability to scale for the opportunities we know are out there in the market. Since then, we have:

• Developed and received approval for an investment strategy to generate financial returns and measurable economic, social and environmental benefits for British Columbians — and launched it with a series of public information sessions and engagements across the province
• Hired and onboarded a talented team of additional investment and support staff
• Developed our Impact Measurement and Management framework, Investment Risk Management Policy, and due diligence tools and templates
• Finalized our Conflict of Interest and Ethical Wall policies
• Established an External Advisory Circle and Investment Review Committee
• Closed and announced our first venture fund investments

Now we have opened the intake process to begin evaluating opportunities to invest directly in companies, alongside other investors. We are looking for companies in their scale-up phase, with strong connections to B.C. and aligned with at least one of our impact objectives. As such, we are currently focusing on companies raising a Series A or beyond financing, generating revenue and seeking an equity investment to support their growth.

From my engagement with communities across the province, I know we have many amazingly innovative companies needing financing. While we have $500 million to invest, we want to do this with careful consideration over the next few years, striking a balance between creating impact and building a high-performing portfolio that generates financial returns and is diversified across geographic regions, sectors, industries, stages of business growth and more.

I know the task will not be a simple one, requiring thoughtful diligence — and we will have to say no more often than we say yes — but it is nevertheless an important one, guided by our principle to be responsible stewards of the funds entrusted to us. Our investments are ongoing and we celebrate potential; we encourage companies that may not be a fit now to engage with us again in the future.

InBC is here to invest in a more prosperous, sustainable and inclusive future for British Columbians. As we begin a new fiscal year, I am pleased to continue advancing this work. I look forward to reviewing opportunities to invest in companies generating financial returns and delivering economic, social and environmental benefits for the province.

— Leah Nguyen, CIO

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Learn more about InBC’s investment criteria here
Learn more about InBC’s impact objectives here
See answers to frequently asked questions here

The post Leah Nguyen: Reflections of My First Year at InBC and Looking Ahead  appeared first on InBC Investment Corp.

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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