Canada's BKR Capital has closed its Fund II at CAD$20 million, aiming to invest in high-growth technology companies led by Black founders. The fund targets solutions for future work, living and global connectivity.

The managing partner, Lise Birikundavyi, notes that almost 70% of the Black population in Canada is first- or second-generation immigrants, giving these founders a unique global perspective from day one.

While some U.S. firms shy away from diversity missions, BKR Capital believes in inclusive investment as good for business opportunities and the ecosystem overall. The firm hopes to invest in 25 companies by December this year.

Birikundavyi says: 'Expanding access to overlooked founders continues to surface high-quality deals, making this less about DEI and more about arbitrage investing.' She launched BKR Capital in 2021 with $22 million for its Fund I, which is performing better than at least 75% of other funds.

The firm's thesis is that overlooked markets and diverse lived experiences can unlock outsized venture opportunities. It aims to back companies globally while focusing mainly on Canada.