March 17, 2022
Victoria, British Columbia – British Columbia Investment Management Corporation (BCI) welcomes Innovate BC as a new client. BCI will manage the Natural Resources and Applied Sciences Endowment Fund.
Innovate BC is a Government of British Columbia crown agency reporting to the Ministry of Jobs, Economic Recovery, and Innovation. Innovate BC helps foster innovation in B.C. so that British Columbians in all regions of the province can benefit from a thriving, sustainable and inclusive innovation economy. They fund and deliver programs that support the growth of the B.C. economy by helping companies start and scale, train talent that meets labour market needs, and encourage technology development, commercialization and adoption.
“We are thrilled to be selected as the investment manager for Innovate BC’s Natural Resources and Applied Sciences Endowment fund.” said David Morhart, executive vice president, corporate & investor relations. “This special purpose fund promotes innovation in critical areas of our provincial economy and it’s our pleasure to support this important work by applying our investment expertise to optimize fund returns in support of their goals.”
“After a very thorough review of the proposals received, Innovate BC’s Finance & Audit Committee was pleased to recommend BCI to manage the Natural Resources and Applied Sciences Endowment Fund. We have engaged closely with BCI’s team to review the different portfolio models and feel confident in the option we have chosen.” said Lesley Esford, chair of finance & audit committee for Innovate BC.
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