$60 Million Fund: Amplify Capital Bolsters Canadian Impact Investing Scene

Amplify Capital has closed its third impact-focused venture capital (VC) fund, securing $60 million CAD in total commitments. The Toronto-based VC firm will back up to 30 companies focused on climate, health, and work technology startups.

The latest investment from Amplify comes as the company celebrates a decade in business, with its managing partner Kathryn Wortsman expressing satisfaction with their progress over the past 10 years. 'It's so great to have built the foundation,' she said. 'My goal is to build an enduring fund franchise.'

Amplify's third fund is anchored by repeat limited partners (LPs) in Québec's Fondaction and the Royal Bank of Canada, with support from newcomers the Business Development Bank of Canada, and the Government of Canada (via Toronto-based Social Finance Fund distributor Realize Capital Partners and the inclusive growth stream of its Venture Capital Catalyst Initiative).

The firm has already made 14 Fund III investments to date, backing companies such as Cura, Reusables, Planetary Technologies, and Lyteflo. Amplify plans to concentrate on pre-seed and seed-stage businesses, with select Series A investments, pouring between $750,000 and $3 million into each startup it backs.