Two REAP members among first Local Investing YYC cohort
Invest locally in Lowen's Skincare and Fiasco Gelato
Local Investing YYC is a for-profit investment cooperative in partnership with Thrive, with a mandate to get capital back into local businesses that are generating financial returns while creating positive social and environmental change in Calgary. They recognize the power of mobilizing community wealth to strengthen the local economy and create positive change.
“We are on the cusp of a paradigm shift in investing; one that moves beyond the boxed idea that there are trade-offs when considering the social context,” says Erin Poeta, Co-Founder, Director, Chair of Investment Committee at Local Investing YYC.
“Yet we’ve only begun to explore the potential of community capital in realizing this shift – we need to build credibility and improve accessibility for local investing.”
Local Investing YYC is thrilled to announce the first round of Calgary-owned businesses to receive investment as they kick off their capital raise for 2019:
Biffco Innovations: Founded in 2016 by Maurice Viens, Biffco Innovations is shaking up the construction industry with its unique approach to framing. Biffco frames create a tighter seal around windows and doors, improving insulation, strengthening the structural integrity and protecting the environment.
Fiasco Gelato: CEO James Boettcher has called his Italian ice cream company a “not-just-for-profit” business. Ingredients are all-natural and sourced as locally as possible, and Fiasco Gelato has won several awards recognizing its innovative approaches to ‘build a better business’ that has community at the forefront of all they do.
“We love the initiative that Local Investing YYC has championed,” says Garrett Cook, Financial Lead & Strategy at Fiasco Gelato. “Calgary is a place of opportunity and there is so much support in our city for people to chase their dreams and change the world.”
“This partnership will increase Fiasco’s ability to carry out its vision of enriching people’s lives, one tiny spoonful at a time, as they grow into new markets across Canada.”
Lowen’s Skincare: A pharmacist by trade, Chad Zelensky named his natural skincare company after his eldest daughter, who as a baby inspired Zelensky to formulate his first product: a diaper rash cream made entirely of allergen-free ingredients that are predominantly locally sourced. The skincare line has since expanded to full offering of skin-care products, keeping in line the original vision of science-based natural care using locally sourced and fair-trade ingredients.
“My hope for partnering with Local Investing YYC is for communities across Calgary to benefit from the impact of local investment. This is yet another example of how we can do things differently in YYC,” Chad says.