To catalyze industrial decarbonization, we must move away from energy-intensive manufacturing to more energy-efficient, low carbon footprint alternatives, such as bio-fermentation. Quebec-based BioIntelligence Technologies (BIT) provides solutions for reducing the carbon footprint in large-scale bio-manufacturing industries like chemical production, pharmaceuticals, cosmetics, and certain food applications. BIT's analytics can alleviate challenges in biomanufacturing by reducing production losses and increasing yields by 5-10% per batch. This improvement fosters the adoption of more sustainable manufacturing processes.
Venture capitalists have traditionally focused on high returns and calculated risks. However, in today’s evolving market landscape, there’s a significant shift towards a more purpose-driven approach. Relying solely on financial gains is no longer sufficient. The demand from consumers, governments, and communities for investments that also yield environmental and social returns is growing. This is particularly crucial given the current state of our planet and the challenges faced by health and education systems. Impact investing emerges as a paradigm shift, redefining the fundamental principles of investment for double bottom-line returns.
Kathryn Wortsman, managing partner at Amplify Capital, told BetaKit that she and Ella Seitz, a partner at Esplanade Ventures, also saw a gap in awareness of healthcare technology focused on women’s health when collaborating on deals in early 2023.
“As women ourselves, and in our respective positions as investment decision makers at our funds, we wanted to help amplify the startups in the space and lead the conversation on the financial and health impact opportunity that can come from investing in this segment,” Wortsman said.
Joining Amplify Capital was a life-changing decision for me, and I'm often asked why I made the move. The answer is simple: purpose and passion.
Amplify's mission to make a positive impact on climate, education, and healthcare struck a deep chord within me. I believe that business can be a powerful force for good, and I am thrilled to collaborate with mission-driven founders to create meaningful change in the world.
Future Fields optimizes the biomanufacturing process, enabling more opportunities for cost-effective alternative proteins. As a result, Future Fields will support the decarbonization industries while offering a scalable solution to meet food, pharmaceutical, and other urgent and necessary needs globally.
EarlyBird Education, developer of the EarlyBird game-based early literacy assessment, has raised $3.5 million in funding, led by venture capital firm Lobby Capital. In addition, David Hornik, founding partner at Lobby Capital and founder of the Lobby Conferences, will join the EarlyBird Education Board of Directors.
Toronto-based Amplify Capital has secured the final close for its second impact investment fund, raising a total $30.7 million CAD—exceeding its initial $30 million goal.
Founded in 2016 as the MaRS Catalyst Fund with a $5.8 million Fund I, Amplify rebranded and spun out of the MaRS Discovery District in 2019. Led by private equity veteran and Managing Partner Kathryn Wortsman, Amplify backs early-stage Canadian healthtech, edtech, and cleantech startups at the seed and Series A stages.
“We want to support traditional investors thinking about [that] double bottom line.”
-Kathryn Wortsman, Amplify
