OceanRock Investments, manager of Meritas SRI Funds, has invested in InvestEco Capital, a firm focussed on investing in high-growth sustainable companies.
Meritas SRI Funds is making an investment in the InvestEco Sustainable Food Fund II as part of the Meritas fund family's broader Impact Investing mandate, which includes building healthier, sustainable communities in Canada, the US and around the world.
The InvestEco Sustainable Food Fund II focuses on high-growth, expansion-stage private companies in North America that are promoting health and sustainability in the food and agricultural sector. The fund is managed by InvestEco Capital, a leader in impact investing in Canada.
InvestEco's investments include companies such as Toronto-based Mama Earth Organics, an organic food delivery service; Maple Hill Creamery, based in upper New York state, a provider of 100-per-cent grass-fed whole-milk dairy products; and Toronto-based local food distributor 100km Foods.
The fund is only marketed to Canadian accredited investors.
"As part of our commitment to impact investing, Meritas SRI Funds is always looking for investments that create social and environmental benefits for communities, while also offering financial returns for investors," says OceanRock CEO Fred Pinto (pictured). "Our investment in InvestEco meets this investment criteria by helping to support sustainable farming that is focussed on growing and raising food that is healthy for consumers, promotes animal welfare and helps to protect the environment. It's also a high impact way to support family farms that continue to play a critical role in the global food industry."
"We are excited to have Meritas SRI Funds as an investor in our Fund," says Andrew Heintzman, CEO and co-founder of InvestEco Capital. "We share a similar goal of generating strong financial returns for investors, while at the same time investing in companies that promote health and sustainability of the food and agricultural sector."
Since their launch more than 15 years ago, Meritas SRI Funds have allocated a portion of their portfolios to Community Development Investments (CDI), which provide micro-loans to entrepreneurs living in developing countries. Meritas SRI Funds is the only nationally distributed retail investment fund family in Canada with an ongoing commitment to CDI.
OceanRock recently expanded its scope to include a wider range of Impact Investing opportunities both in Canada and abroad. InvestEco represents the second investment for Meritas SRI Funds under this new Impact Investing umbrella. The first was a recent investment in New Market Funds and its inaugural affordable rental housing fund, which aims to deliver affordable rental housing units in Canada's largest cities.
OceanRock expects to announce more Impact Investments for the Meritas SRI Funds in the near future.