BKR Capital Raises $14.5M (So Far) to Invest in Black Founders

BKR capital of Canada announced on Monday that its Fund II has closed CA$20 million (about $14.5 million), bringing it closer to its CA$50 million goal.

This fund seeks to support “high-growth technology companies led by founders from the Black community, creating solutions for the future of work, life and global connectivity,” CEO Lise Birikundavyi told TechCrunch. The company is primarily looking at Canada, but is open to supporting select companies worldwide. The average check size will be between $250,000 and $1.5 million, he said.

Birikundavyi said nearly 70% of the black population in Canada are first- or second-generation immigrants, “resulting in founders who build globally from day one, unlocking early access to international markets and creating a structural advantage in scaling.”

While many U.S. companies have shied away from openly advertising a mission that could be perceived as diversity, equity and inclusion (DEI), Birikundavyi said her Toronto-based fund doesn’t exactly share those fears. What’s happening in Canada is less of a return of DEI and more of a reconfiguration, he said, where investors are “prioritizing the yield conversation,” even though “the underlying opportunity remains unchanged.”

He added, “Expanding access to neglected founders continues to surface high-quality deals, making this less about DEI and more about arbitrage investing.” He believes investors in Canada still see “inclusive investment” as good for the ecosystem and full of potentially lucrative business opportunities.

The company’s thesis is rooted in the belief that “overlooked markets and diverse lived experiences can unlock great business opportunities,” Birikundavii said. The company launched in 2021 and raised $22 million for Fund I (which Birikundavyi said is performing better than at least 75% of other funds launched around the same time). He said BKR Capital hopes to close Fund II for good in December and invest in 25 companies.