Canadian Business Growth Fund Announces B Corp Certification

Toronto, ON — June 19, 2024 — The Canadian Business Growth Fund (CBGF) proudly announces its B Corp certification, reinforcing its commitment to responsible and ethical business practices that consider its impact on all stakeholders. As a B Corp, CBGF joins a global community of companies dedicated to considering both profit and purpose. As of May 2024, there are over 8,600 B Corp companies in 101 countries spanning across 162 industries and today, CBGF joins a small but growing number of private equity firms that have achieved this status in Canada and around the world.

CBGF supports innovation and fosters a resilient and competitive Canadian economy by investing in our entrepreneurs and their bold plans for growth. Since launching six years ago, CBGF has always strived to do our best for our employees, portfolio companies and all stakeholders. Our B Corp status recognizes our efforts of running our business in an ethical and socially responsible manner since our inception, and further emphasizes our mission to make a positive impact on Canadian businesses by providing patient minority capital and strategic support to fuel their growth and foster innovation, while earning market returns.

George Rossolatos, CEO and Managing Partner of CBGF says, “We are proud to have achieved our B Corp status. This has been a goal of ours since launching the fund given our commitment to making a positive impact on Canadian entrepreneurs and the Canadian economy, and we believe that this certification further emphasizes CBGF’s mission of supporting mid-market Canadian businesses, while striving to do our best for our employees, portfolio companies and all stakeholders”.

What Does it Mean to be B Corp Certified?

B Corp certification is awarded to companies around the world by B Lab Global. B Corp is a designation that a business is meeting high standards of verified performance, accountability, and transparency on factors such as governance, culture, community, environment, and customers.

To achieve the certification, a company must demonstrate high environmental, social, governance (ESG) performance by achieving a B Impact Assessment score of 80 or above and passing the risk review; committing to be accountable to all stakeholders, and exhibit transparency by allowing information about their performance measured against B Lab’s standards to be publicly available on their B Corp profile on B Lab’s website.

Our B Corp Journey

CBGF’s journey toward B Corp certification involved rigorous assessment across five key impact areas:

  • Governance: CBGF prioritizes transparency, ethical behaviour, and stakeholder engagement. Our governance practices ensure alignment with our mission and we support our portfolio companies to uphold similar standards.
  • Workers: We value our team members’ well-being, diversity, and fair treatment. CBGF fosters an inclusive workplace where everyone’s voice matters and aims to partner with companies that also take this into consideration.
  • Community: CBGF actively contributes to local communities by investing in its partner companies. We collaborate with our partners to address challenges and promote economic growth.
  • Environment: CBGF considers environmental impacts when assessing potential investments and carrying out due diligence and is committed to discussing the importance of limiting and/or mitigating the environmental impact of operations within our portfolio companies.
  • Customers: CBGF’s commitment extends to our portfolio companies and their customers. We advocate and ensure ethical business practices across our entire portfolio.

About the Canadian Business Growth Fund (CBGF):

CBGF provides long-term, patient, minority capital to ambitious entrepreneurs to fund growth and expansion of mid-market businesses with investments between $5 million and $20 million. An evergreen investment fund with capital commitments of $545 million, CBGF is committed to long-term partnerships with the companies it invests in. As part of its mission to drive growth, CBGF connects business leaders and sector experts to help its partner businesses achieve their full potential.

Learn more about our portfolio companies here.