Torys is proud to have partnered with the Black Opportunity Fund to support the launch of BOF Capital, a first-of-its-kind investment company focused on dismantling systemic economic barriers and building generational wealth for Black communities across North America. The launch was reported in an article in The Globe and Mail.
Formed in 2020, the Black Opportunity Fund brings together businesses, philanthropists, foundations and the Black community to support a prosperous, healthy and thriving Black Canada by challenging anti-Black racism in two ways. The first is by addressing systemic barriers to funding for Black communities; and the second is by strengthening collective actions by Black organizations and leaders to create new and more impactful ways to support and advocate for communities across Canada.
The newly launched BOF Capital—which is independent from the Black Opportunity Fund, with separate governance and leadership—will operate as a for-profit enterprise offering investors market-level returns.
Along with our work advising on the launch of BOF Capital, the Torys team is also providing counsel on the organization, formation and fundraising activities for BOF Capital’s first two privately sponsored funds aimed at fostering economic inclusion:
- BOF Capital Growth Fund, an impact focused fund investing in Black-led businesses, providing financial backing, mentorship, and market access to help entrepreneurs scale and succeed. It is targeting initial capital commitments of C$100 million.
- Ourboro BOF Capital Opportunity Fund, a housing investment fund formed in partnership with Ourboro Inc. The fund, which is targeting initial capital commitments of C$50 million, is designed to increase Black homeownership through an innovative shared equity model, providing money to aspiring homebuyers in exchange for partial ownership of the property.
You can learn more about Torys’ work around Diversity, Equity and Inclusion on our DEI page.