Renewal News and Blog

Ormindale Block

Rebecca Cuttler — Tue, 15 Apr 2014 17:53:35 -0500

The Ormindale Block, situated next to Renewal's office on West Hastings Street in Vancouver, is going to be redeveloped in 2014. According to a recent Globe and Mail article, "At 151 West Hastings, the Ormidale Block, a commercial redevelopment project by Vancouver-based Century Group that will get under way this spring, is a unique fusion of old and new, heritage and high tech that may well offer a new neighbourhood model." Read the full article here.

Renewal3 makes first portfolio investment - Sweet Earth Natural Foods

Rebecca Cuttler — Thu, 10 Apr 2014 13:23:53 -0500

In early April Renewal3 made its first fund investment in Sweet Earth Natural Foods.

Based in Moss Landing, California Sweet Earth

creates gourmet plant-based recipes with bold, international flavours. The company’s creations are filled with fresh, organic, non-GMO ingredients including ancient grains, which is both high in protein and a huge win for the environment.

Sweet Earth’s mission is to nourish lives by facilitating smart food choices that honor the land. Its great-tasting frozen entrees, yummy and ethical meat alternatives and healthy snacks include a full line of eight ancient grain burritos, meatless Benevolent Bacon and seitan-based recipes including veggie burgers, ground seitan and seitan strips.

Sweet Earth is a very important investment for the Renewal portfolio because it provides a high-protein alternative to meat consumption. Feedlot livestock production is a leading cause of environmental degradation and resource use on the planet and is the primary user of fresh water in the U.S.; it takes more than 2,400 gallons of water to produce one pound of beef (and only 180 gallons to make one pound of flour)! The Worldwatch Institute estimates that at least 51% of greenhouse gas emissions worldwide can be attributed to livestock and their byproducts and the United Nations has stated that an increased vegetarian proportion in the global diet is a necessary step to combat the worst effects of climate change.

Sweet Earth’s non-GMO, locally-sourced products inspire consumers to make the switch away from meat, delivering enormous potential environmental impact as the company grows and magnifying the tremendous health benefits of a higher-protein, lower-fat vegetable-based diet.

The company’s significant social impact includes a strong commitment to support its workers and an important role in helping people eat balanced, nutritious meals in a world where over-processed foods have made illnesses such as obesity and heart disease commonplace.

The company has a stellar leadership team; husband and wife Brian and Kelly Swette have both had successful careers at the executive level, guiding strategic vision and growth and cultivating strong connections in North America’s largest consumer companies. Kelly’s roles as Worldwide Head of Marketing at Calvin Klein and Director of Sales at PepsiCo and Brian’s roles as COO of eBay and Chief Marketing Officer at PepsiCo have provided the experience and direction to strategically drive growth and manage large teams.

“Sweet Earth has all the factors we look for in a Renewal investment; strong environmental and social mission, a deeply experienced management team and potential for significant growth and financial return. Our investment team believes that Sweet Earth’s chef-inspired flavour profiles, innovative product development and strong management team set it apart from the competition.” Paul Richardson – Renewal Funds CEO

For more information, visit www.renewalfunds.com

Globe & Mail article on Renewal Funds

Rebecca Cuttler — Wed, 09 Apr 2014 13:42:46 -0500

The Globe & Mail recently published an article about Renewal Funds. Please read on:

Private equity firm bets on organic food, green products, environmental innovation
By Brent Jang
The Globe & Mail
April 6, 2014

Pass the organic quinoa, but hold the unsavoury investments.

A private equity firm committed to a socially responsible investment strategy is preparing to place new bets on organic food, green consumer products and environmental innovation. READ THE FULL ARTICLE>>

Claudia named to prestigious Ashoka Global Fellowship

Joel Solomon — Thu, 03 Apr 2014 19:35:17 -0500

Claudia Li, a former office mate and the Director of Shark Truth and the hua foundation, has recently been awarded an Ashoka Fellowship. Please read on for more information:

TORONTO, ON, April 1, 2014 – Ashoka Canada is pleased to announce the election of Claudia Li, founder of Shark Truth to the Global Ashoka Fellowship. Ashoka’s widely-recognized network accelerates the impact of social entrepreneurs worldwide.

Li’s ground breaking work facilitates inclusion and active participation of ethnic Chinese youth — one of the world’s largest cultural populations — to become significant influencers in the global dialogue on environmental sustainability. READ THE FULL ARTICLE >>

Renewal3 closed at $63 million in committed capital

Rebecca Cuttler — Fri, 07 Mar 2014 19:56:12 -0600

The Renewal Funds team is pleased to announce the final close of the Renewal3 Fund at $63 million CAD on February 28^th to reach $98 million total Assets under Management.

Renewal3 is a social venture fund investing in early growth stage businesses in the organic & natural food, green products and environmental & social innovation sectors in Canada and the US, designed to deliver above market returns at a lower risk profile than traditional venture capital funds. Building on the success of Renewal2, the team is currently in due diligence on the first investments for Renewal3.

We are excited about the wonderful community of investors who have joined us to advance this important innovation in social finance. A stellar group of individual, family, foundation and institutional investors from Canada, the USA and Europe have invested, who represent the growing demand for “Investing for Change”. We are proud to have 22 foundations invested with Renewal Fundsand are especially thankful to our Renewal2 investors who have committed over $33 million to Renewal3.

Paul Richardson's interview with Institute B: Why I invest in Change Agents

Joel Solomon — Tue, 17 Dec 2013 15:24:00 -0600

Renewal Funds CEO Paul Richardson was recently interviewed by Institute B about investing with a purpose beyond profit. Read the interview here.

Paul Richardson: Why I Invest in Change Agents
December 16, 2013 by institute B

Renewal Funds is a social venture capital firm that supports passionate, experienced change-agent entrepreneurs. institute B caught up with their CEO Paul Richardson and discovered why he believes investing in entrepreneurs who are motivated by a broader set of priorities, leads to better outcomes for all stakeholders. READ THE FULL ARTICLE>>

The Cleaning Solution -- a socially progressive cleaning company

Rebecca Cuttler — Tue, 03 Dec 2013 11:53:57 -0600

From 2008 to late 2013, Renewal Partners’ offices in Vancouver’s Flack Block building were cared for by The Cleaning Solution.

Early each evening, The Cleaning Solution’s employees would vacuum our offices, dust and take out our compost. They kept our space spotless. When Renewal staff worked late, they would ask us how our days were going and, always with a smile, remind us not to work too hard.

But The Cleaning Solution is more than just a regular cleaning company. They are a socially progressive organization with a mandate to employ persons living with a mental illness who are ready to return to the workplace. The Cleaning Solution provides a supportive work environment, including service-orientated training and green cleaning products. The professionalism, friendliness and quality work of The Cleaning Solution staff was evident in everything they did.

We will miss having The Cleaning Solution in our building and truly wish them success.

Carol Newell honoured with Land Champion Award from Real Estate Foundation of British Columbia -- article by Mike Rowlands

Joel Solomon — Fri, 01 Nov 2013 14:56:40 -0500

Carol Newell was recently honoured with a Land Champion Award from the Real Estate Foundation of British Columbia. Mike Rowlands has written a fabulous article on Carol's journey:

Natural Philosophy: A Conversation with Carol Newell

By Mike Rowlands

October 31, 2013

“It’s hard to imagine us ever running out of trees.”

So said a former employer to me, many years ago. He had traveled extensively throughout British Columbia, and was commenting on the magnificently abundant nature across the province. We were discussing the importance of natural resources to BC’s economy—and more to the point, our industrial capacity to remove entire forests, vast swaths of wilderness that might never be seen again. He simply couldn’t imagine that might be possible.

Yet in recent years, we’ve witnessed pine beetles’ infestation of our central forests, massive variations in annual salmon returns on BC’s coasts, and wildfires that have razed both mountainsides and neighbourhoods. In the context of a changing climate, it is well within the realm of imagining that some of these priceless landscapes may be damaged or lost forever. The abundance of our natural environment is all too easy to take for granted.

It is in this very context, and in recognition for her determined and strategic approach to mitigating these risks,that Carol Newell is being honoured with the Real Estate Foundation of BC’s 2013 Land Champion Award.

I was very much looking forward to speaking with Carol about this recognition, and about her work. I spoke to Carol at her Cortes Island home, calling her from a hotel room in Baltimore, where urban renewal has honoured the history of place, while looking ahead to a sustainable architectural future.

To connect with Carol Newell is to migrate into a land of profound metaphor, where biodiversity is the model for resilient economics, and the natural cycles of flourish and decay are the models for the generative flow of capital. For Carol, the “grand diversity and generosity” of nature is something not to be mastered, but to be emulated: “Mother Nature has figured out economics in a way that works.” READ THE FULL ARICLE>>

Joel Solomon featured in Change Heroes' People with a Purpose series

Rebecca Cuttler — Thu, 31 Oct 2013 14:58:17 -0500

Joel Solomon was recently featured in Change Heroes' People with Purpose series:

People With Purpose: A Conversation with Joel Solomon
By Reanne Derkson
October 29, 2013

For certain audiences there are some people who really need no introduction. In the hearts and minds of many social entrepreneurs, Joel Solomon’s name resonates with special meaning.

Scan some of our past People with Purpose conversations and his name often makes an appearance.

It’s the present of what he’s doing, his humble presence and generous being that evokes almost a sense of wonderment in those who know him or have heard of his work. Taking time out from responsibilities including his roles as Chairman of Renewal Funds (Canada’s largest social venture capital fund); founding member ofSocial Venture Network (SVN), Business for Social Responsibility (BSR), the Tides Canada Foundation and Board Chair of Hollyhock Foundation, to share some thoughts with us is meaningful. We’ll be forever grateful.

For a man who includes “Activating Money for Change” as a moniker, here’s our conversation that’s not really all that much about money. READ THE FULL ARTICLE>>

Joel's Solomon's Interview with Institute B

Rebecca Cuttler — Wed, 23 Oct 2013 13:37:10 -0500

Joel Solomon was recently interviewed by Institute B:

Joel Solomon on Becoming a Billionaire of Good Deeds
By Institute B
October 21, 2013

OK. We admit it. Joel Solomon is one of our heroes. A legend in the social venture scene, Joel shares his wisdom on becoming a billionaire of good deeds and how true success is measured in the currency of love.

Renewal Funds is a Vancouver-based social venture capital company that invests in early growth stage companies in organic and natural food, green products, and environmental innovations. They support entrepreneurs in Canada and the USA who create financially successful businesses rooted in mission and purpose. READ FULL ARTICLE>>