Toronto’s BlackTech Capital (BTC) has officially launched its Catalyst fund, which will back early-stage cleantech companies led by founders who have traditionally been underrepresented in the tech sector.
On Wednesday, the firm announced that it held a $500,000 first close of a target $2-million CAD fund, which it aims to close before the end of the year. Its anchor investors are Ontario-based impact investing family office Dragonfly Ventures, Canada’s largest Black-led VC fund BKR Capital, and a handful of high-net-worth individuals. BTC told BetaKit it’s starting with a micro venture fund in part to chase the outsized returns that can come with smaller funds, and to bring in investors at a more accessible minimum cheque size amid a tough fundraising environment for emerging managers.
“We’re seeing more investors come to the table saying, ‘if we can get in for as little as $10,000, let’s give this a try.’”
“The purpose [is] explicitly to make venture fund returns, but with a focus on the founders who are constantly overlooked, despite them bringing excellent teams, excellent technology, original IP to the table,” BTC co-managing partner Keyona Meeks said in an interview with BetaKit. “We thought with this Catalyst vehicle, we could lead the market and show them through example.”
Founded in 2021, BTC set out to close a funding gap for Black founders and other underrepresented groups, but itself faced challenges raising a fund. The 2025 Black Startup Funding Report, released by BKR and Rep Matters, found that only 0.15 percent of all VC deployed in Canada last year went to Black founders. The BTC team recently went through BKR Capital’s Launch Readiness Program, a mentoring program for Black-led fund managers.
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The fund is run through Equivesto Canada, an angel investment and online equity crowdfunding platform. Meeks said this allows BTC to raise money through minimum cheque sizes of $10,000, allowing for a more accessible entry point for individual investors.
“There’s still a lot of reluctance in venture investing in early-stage companies,” co-managing partner Bryan Duarte told BetaKit. “We’re seeing more investors come to the table saying, ‘if we can get in for as little as $10,000, let’s give this a try.’”
So far, BTC has already invested in four cleantech companies, including Serenity Power, which is creating low-emission power with solid oxide fuel cells, and Kiwi Charge, which makes an electric vehicle charging robot. The plan is to invest in two more before the end of the year, and to keep half of its portfolio woman-founded.
Feature image courtesy BlackTech Capital.
