BlackTech Capital opens $2M fund for overlooked cleantech founders
What's the deal? Toronto's BlackTech CapitalDealroom has a profile for this one. Try Dealroom → (BTC) has launched its Catalyst fund to back early-stage cleantech companies led by founders underrepresented in tech. The firm announced a $500,000 first close of a target C$2-million fund on Wednesday, with plans to close it before year-end.
Who's backing it? Anchor investors include Ontario-based impact investing family office Dragonfly VenturesDealroom has a profile for this one. Try Dealroom →, Canada's largest Black-led VC fund BKR CapitalDealroom has a profile for this one. Try Dealroom →, and several high-net-worth individuals. The fund runs through equity crowdfunding platform Equivesto CanadaDealroom has a profile for this one. Try Dealroom →, letting BTC raise from individuals at a minimum cheque size of $10,000.
Why now? BTC is starting with a micro venture fund to chase the outsized returns smaller funds can deliver and to draw investors 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,'" co-managing partner Bryan Duarte told BetaKit.
What's the endgame? The fund aims to make venture returns while backing founders who are typically overlooked. "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," co-managing partner Keyona Meeks said. "We thought with this Catalyst vehicle, we could lead the market and show them through example."
The gap it's targeting: Founded in 2021, BTC set out to close a funding gap for Black founders and other underrepresented groups, but faced its own challenges raising a fund. The 2025 Black Startup Funding Report, from BKR and Rep MattersDealroom has a profile for this one. Try Dealroom →, found only 0.15% of all VC deployed in Canada last year went to Black founders. BTC recently completed BKR Capital's Launch Readiness Program, a mentoring program for Black-led fund managers.
The portfolio so far: BTC has invested in four cleantech companies, including Serenity PowerDealroom has a profile for this one. Try Dealroom →, which produces low-emission power with solid oxide fuel cells, and Kiwi ChargeDealroom has a profile for this one. Try Dealroom →, which makes an electric vehicle charging robot. It plans two more investments before year-end and aims to keep half its portfolio woman-founded.
The signal: BTC's micro-fund approach reflects how emerging managers are turning to smaller vehicles and crowdfunding platforms to raise in a difficult market — and how underrepresented founders remain starved of capital despite persistent funding gaps.
Read more: betakit.com
Image credit: 1010 Climate Action
