The L&A Community Investment Fund (CIF) wants to harness community capital to support our local business community.
An initiative of the Lennox & Addington Economic Development Office, the CIF will be L&A’s first community investment vehicle that allows residents to invest in local businesses. We are looking for input from community stakeholders to help us design and deliver a CIF that works for Lennox & Addington. Please complete the survey below to help us shape the program.
More about the Community Investment Fund
The L&A Community Investment Fund initiative aims to be L&A’s first community investment vehicle allowing residents to invest in local businesses. The CIF will identify community-oriented companies tackling local economic, social, or environmental challenges and looking for capital to grow and scale their businesses. The CIF will then connect those enterprises to a local pool of money provided by community members that can invest in these local businesses. The L&A CIF has four core ambitions:
- We will invest in businesses that create demonstrable community benefit
- We will serve as a bridge for local companies to scale from small operations to employers who can create 5-10 new local jobs
- We will look to attract creative businesses and innovative entrepreneurs
- We will be responsive to municipal priorities and community needs
It is important to note that this is not envisioned as a philanthropic initiative, and any investment the CIF makes expects capital appreciation (generating financial returns). However, the primary motivator is not to create superior risk-adjusted returns but to allow residents to use a portion of their investable assets to invest in local businesses that generate local community benefit.
The CIF will focus on investing in sectors vital to our local economy, including manufacturing, value-added agribusiness, companies within the local supply chain (agricultural producers, agricultural processors, retail food businesses, etc.), innovation, boutique retail, and community services.