February 4, 2022

BKR Capital Secures $4.5M And Announces First Four investments Will Be In Black Tech StartUps

BKR Capital, previously known as Black Innovation Capital, has closed an additional $4.5 million for its venture capital fund focused on Black tech entrepreneurs in Canada.

The venture aims to back 18 Canadian tech companies founded by Black entrepreneurs over the next four years.

This recent funding was led by Caisse de dépôt et placement du Québec (CDPQ) through Teralys Capital and Fondaction. It comes in addition to the $6.4 million they secured last year from lead investor BDC Capital and others.

Launched in 2021, the Black Innovation Fund aims to invest in Canadian pre-seed and seed-stage technology companies founded by Black entrepreneurs. The fund is being run by BKR Capital, which Lise  Birikundavy and managing director Isaac Olowolafe established last year.

To date, BKR Capital has invested in four Black-led tech companies, including Toronto-based Fyyne, which allows users to search for, book, and pay for hairstyling services through its platform. The startup also enables ‘hair artists’ like hairstylists and barbers to commercialize their skills.

Abbianca Makoni

Abbianca Makoni is a content executive and writer at POCIT! She has years of experience reporting on critical issues affecting diverse communities around the globe.