IMPACTASSETS 50™

An Annual Showcase of Impact Investment Fund Managers

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An Annual Showcase of Impact Investment Fund Managers

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ImpactAssets 50: A Global Landscape of Impact Investment Fund Managers
The ImpactAssets 50 (IA 50) is the first open-source, publicly published database of experienced private debt and equity impact investment fund managers.
https://www.impactassets.org/impactassets-50

ImpactAssets 50

An Annual Showcase of Impact Investment Fund Managers

IA 50 2024 PROFILE

Sandpiper Ventures

Total Assets Under Management: Less than $25M
Asset Class: Private Equity
Primary UN Sustainable Development Goal: 5 – Gender Equality
Climate Change
Diversity, Equity and Inclusion
Health and Wellbeing

Firm Overview

Category: Venture Capital - Multi Stage - Developed Markets

Sandpiper Ventures is a seed-stage venture capital firm located in Atlantic Canada. Led by a group of women who come from a rural and underserved geography, who have built, bought and invested in hundreds of companies across the world over the course of their careers. Sandpiper believes that great companies deliver both purpose and profit and invests in innovators building high-growth profitable, sustainable companies with global potential and positive impact on health and wellness, environment and communities, and education and workforce of the future. 

Firm Headquarters: United States
Years of Operation: Less than 3 years
Total Assets Under Management:
Less than $25M
Total Number of Investors: More than 25
% of Capital from Top 3 Investors: Less than 25%
Investment Thesis:

Sandpiper invests in women and non-binary led start-ups that are building transformative, globally scalable, future- fit companies, as an underserved population that is over-performing. We create funds that deliver a reliable return by investing in founders and start-ups that are intent on changing the world around them.

Investment Overview:

Sandpiper Ventures is a seed and Series A stage venture capital firm based on the east coast of Canada and we invest exclusively in women-led tech companies across Canada. We invest in tech companies with women and non-binary founders in the C-suite with equitable ownership, as an underrepresented demographic that is over-performing. We are industry agnostic but make our investments in companies where our experience and networks are relevant focusing on companies solving massive problems to improve Healthcare and Wellbeing, Environment and Communities, and Education and Workforce of the Future. We create funds that deliver a reliable return by investing in founders and start-ups that are intent on changing the world around them. We build on our investment and generously impart business acumen and hands-on support that is proven to increase their chances of success in the marketplace.

Company Differentiator:

We are an operator driven fund, our management team and active advisors are well connected business leaders, ex-CEOs, with deep international industry and operations experience, providing access to unique deal-flow and the tools and networks to support our portfolio companies. Our GPs have built companies from scratch, scaled companies into new markets, developed talent, failed and succeeded in M&As, and executed multi-billion $IPOs. We have taken these companies successfully through volatile and adverse market conditions. We are bringing access to capital and the resources that our founders need to be successful in global markets, particularly with today's market conditions.

Investment Example

DeNova (https://www.denova.ca/): DeNova is commercializing a microbial protein product offering an innovative, planet-conscious solution to the global protein challenge at a quality and price positioned to disrupt the food supply chain. By harnessing the power of the world’s most efficient carbon recyclers, DeNova's alternative protein ingredient is grown using a feedstock derived from greenhouse gases and underutilized hydrocarbons. Initially supplying the aquaculture industry, DeNova aims to directly replace the expensive and unsustainable proteins used in today's commercial aquaculture diets. DeNova is led by a women named Brianna Stratton, who continues to build an intersectionally diverse team of powerful leaders. Sandpiper originally invested in DeNova in 2020 and assumed a board seat in 2021 during the first follow on fundraise. The company valuation has increased with a multiple of 5x during this period.

Leadership and Team

Cumulative Leadership Experience in Impact Investing:
30 years or more
Cumulative Impact Experience of Top Three Firm Leaders:
10 – 19 years
Cathy Bennet – Co-Founding and Managing Partner More Info

As a former CEO, seasoned entrepreneur, current board director and consultant, and as a prominent business-person in Newfoundland, Cathy’s focus is growth. With over 30 years of business leadership, her own company, Bennett Group of Companies, included operations in commercial and industrial construction, industrial manufacturing, human resource support, food service, industrial supply and real estate investments and operations. Cathy is currently the CEO of TaskForce NL. Cathy serves/has served on public, private and crown corporation boards spanning diverse industries. Cathy is an active angel investor and mentor for early-stage technology companies.

Rhiannon Davies – Co-Founding and Managing Parter More Info

A native of New Brunswick, Rhiannon’s business leadership spans Europe, Asia, South and North America. She was on the Board of Directors that took GrandVision N.V., a CAD$ 5.5 Billion revenue retailer with businesses in 45 countries, through a successful IPO on the Amsterdam Stock Exchange. Rhiannon has driven the target identification, due diligence, acquisition, integration and move to profitability of many companies. She thrives in fast moving, fast growth environments, and works in executive and board roles in private, public and non-profit organizations.

Sarah Young – Co-founding and Managing Partner More Info

Sarah Young is an entrepreneur, a business leader and one of Canada’s most sought-after communications advisors. She is Partner and Senior Counsel Managing Partner at NATIONAL Public Relations, Canada’s leading PR firm. Previously Sarah was Managing Partner responsible for Atlantic Canada at NATIONAL and she also led the corporate talent strategy across the global network for AVENIR GLOBAL, one of the world’s 15 largest communications companies. Sarah helps private and public organizations across Canada tackle complex challenges ranging from industry disruptors, the modernized workplace, gaining social license, shifting consumer attitudes, scaling business into new markets and investment attraction.

Financial Performance

Target Financial Returns Relative to Benchmark:
Above Market Rates
Actual Performance of Impact Products/Funds Relative to Target Financial Returns in the Past Three Years:
In line with initial target returns
Financial Reporting Frequency to Investors or Donors
Quarterly

Impact Performance

Percentage of Total Assets Under
Management that are Impact Investments:
100%
Primary Impact Outcomes:
Addressing gender inequities
Secondary Impact Outcomes:
Addressing climate change and environmental issues
Increasing access to healthcare services and improving health
Addressing racial inequities
Value-added Services Offered:
Access to markets
Business and legal training
Financial literacy training
Education services
Human Resources, recruiting and professional development services

Investments systematically target companies where social and/or environmental impact is integral to the product/service being created:

Our mandate is to invest in women and non-binary founders and their innovation, with an impact of increasing participation of women as both investors and innovators, generating wealth and working towards greater access to inclusive innovation and more equitable wealth distribution.

Investments systematically include social and environmental sustainability practices in the due diligence process:

Our due diligence and onboard process includes an evaluation of environmental and social responsibility and we track these metrics on a quarterly basis throughout the lifetime of our investment.

Impact Tracking and Monitoring

Impact is Tracked:
Yes
Impact Verified by an Independent Third-Party:
No
Social and/or Environmental Impact is Reported to Investors and Donors:
Yes – to investors and donors
Third Party Validations:
Member of Impact Capital Managers
Impact Frontiers Cohort Participant
Implement recommendations from Task Force on Climate Related-Financial Disclosure
Net Zero Assets Managers Initiative
Utilizes standardized impact metrics (e.g. IRIS+, GIIRS, etc.)
Participant on steering committees or leadership roles within impact industry associations
Publisher or contributor to industry white paper or other research in impact investing

Learn More

Key Contact Name: Rhiannon Davies
Phone: 902-880-8307
Mailing Address:

5945 Balmoral Rd., Halifax, NS B3H1A5 Canada

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IA 50 2026: Apply for Consideration

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