Announcing Our First Close
Dear {FIRST_NAME|Sir/Madam},
I am thrilled to announce that Renewal2 will have its First Close at the end of this month. We now have over $16 million in commitments from a truly wonderful group of 27 (and counting) private, foundation, and institutional investors committed to social and environmental change through a portion of their investment portfolio. This makes Renewal2 one of the largest collections of social venture investors in North America – a strong testament to the work of the team, the wonderful legacy of Renewal Partners and, most importantly, to the growing enthusiasm and support for investing in a more sustainable way.
I think that it is fair to say that the fund “raise” has been more time consuming than any of us had anticipated and I do admit to being a bit concerned about my carbon footprint as a result of our travel. However, the saving grace has been that by and large the people who have expressed interest in Renewal2 have been smart, engaged and share our commitment to a positive future for the planet. It has also been helpful that the partners who are participating have skills, contacts, deal flow and brain power that we will all benefit from as we collectively invest in and nurture a new generation of companies creating positive change.
I want to personally thank those who have joined us in our first close and we look forward to seeing you at our celebration party in June. We are truly excited about moving into the next stage of investing. For those who aren’t able to commit to the Fund by the end of May, we welcome your participation before our final close at the end of November 2009. For more information, check out our press release.
All the best,
Paul Richardson
President, Renewal2
Fund Status
Despite the challenging times, we
have to date received commitments
of over $16M. Our deal flow is
strong and the entrepreneurs are realistic about their valuations and
our 10-year time horizon which should
allow for healthy exits for Limited Partners and our portfolio
companies. As we rapidly
approach our first close at the
end of May 2009 we still welcome individuals, organizations and foundations who are interested in participating. We recently reduced our LP
minimum
to $250,000 to ensure
a broader
diversity of participation in
the fund.
For more information contact
Nicole Bradbury, Vice President (604) 844-7474 ext 626
nicole@renewal2.ca
Team News
On April 1st, we celebrated the opening of the Tides Renewal Centre at the Flack Block in Vancouver’s Downtown Eastside. The city’s Mayor and Renewal’s first investee, Gregor Robertson joined over 300 guests to kick off the festivities by cutting the ribbon and reading the Proclamation from City Hall. Home to a stellar group of innovative social change agents, the interior LEED certified building is a dynamic innovative centre in which a synergy of ideas and actions takes place.
We invite you to visit us at our new office at the Tides Renewal Centre.
Please contact Jennifer Merryman (604) 844-7474 ext 625
jennifer@renewal2.ca
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About Renewal2 Investment Fund
Based in Vancouver, BC, Renewal2 is a social venture fund that builds upon 15 years experience in successful high-impact investing. We are dedicated to delivering superior financial returns by investing in some of North America’s leading environmental and social mission businesses. We focus on underfunded sectors that are critical to a sustainable economy, early stage companies that require patient capital, and scalable businesses that can generate meaningful shifts in consumer behavior. Managed by the principals of
Renewal Partners, the Renewal2 team brings over 30 years experience in social investing and capital markets to the fund.
Disclaimer: This is not an offer or solicitation to sell securities of, or financial interests in, the Fund. Investment in the Fund is limited to a restricted pool of investors, namely “Accredited Investors” and others not requiring disclosure by prospectus as defined under applicable securities laws.
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In the Spotlight
September 9 - 13, 2009
Cortes Island, British Columbia
We invite you to join business leaders and social entrepreneurs for an intensive, interactive inquiry into how to face the day-to-day challenges of running a socially conscious enterprise. Hear inspiring “True Confession” stories from Renewal2
advisor, Tamara Vrooman CEO of Vancity, and Arran and Ratna Stephens, Founders of Nature's Path.
SVI, now in its 14th year, gets you off the treadmill of your usual business life, while at the same time invigorating and enhancing your professional skills. Amidst the spectacular backdrop of Hollyhock you will:
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Share innovative ideas to help improve the way you manage, promote, and finance your business or project |
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Get direct feedback for current business challenges from a faculty of seasoned socially responsible leaders; |
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Build a stronger sense of community, cooperation, and mission; and |
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Strengthen your connections among mission-based entrepreneurs and non-profit leaders. |
SVI is for CEO’s and leaders of established small businesses and non-profit enterprises. Pre-approval is required prior to registration. To apply, please click here. (Enrolment is limited and priority will be given to second-stage entrepreneurs.) SVI is a SVN and Renewal collaboration.
Upcoming Events
Renewal2 Investors’ Call
Tuesday, June 16, 2009
10 - 11:00am PST/1 - 2:00pm EST
Join Paul Richardson and Joel Solomon on an informative call
to learn more about our Fund.
Joel and Paul will share the Renewal2 story for approximately 20 minutes and then hold an interactive Q&A session.
Please RSVP to
Jennifer Merryman
jennifer@renewal2.ca
(604) 844-7474 ext 625
Sustainable Brands 2009
May 31 - June 4, 2009
Monterey, CA
Sustainable Brands '09, now in its third year, has become the preeminent gathering of brand and design leaders focused on sustainability as a driver of revenue growth and brand equity in a complex and rapidly changing world.
Paul Richardson will participate in the new Sustainable Venture Exchange.
www.sustainablelifemedia.com
SoCap 09
September 1 - 3, 2009
San Francisco, CA
Social Capital Markets (SoCap) 09, now in its 2nd year, is a unique conference focused on making sense of the times and celebrating the renewed will and determination of the pioneers of social change. Renewal2 is thrilled to present at this event.
http://socialcapitalmarkets.net
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