EntrepreNorth's Sinew Impact Fund closed an initial C$8 million for Northern Indigenous entrepreneurs. The fund is working toward a C$10 million target. Its first investment is a loan to Aurora Heat, an Indigenous-owned business in Fort Smith, Northwest Territories.
Funding so far
Nine funders backed the first close, including Mastercard Foundation, McConnell Foundation, and Dragonfly Ventures. Non-Indigenous investor capital is fully committed. Sinew is now raising C$2 million from Indigenous wealthholders.
Aurora Heat background
Aurora Heat is a 100% Indigenous woman-owned social enterprise. It designs reusable body-heat warmers from wild beaver fur. Founder Brenda Dragon started the company in 2015 and completed EntrepreNorth's Growth Program.
How the capital works
Sinew offers repayable capital from C$50,000 to C$1 million. Eligible businesses must be majority Indigenous-owned and led and generate revenue. Aurora Heat will use the loan to expand operations, develop new products, and reach new customers.
Expressions of interest remain open for eligible Indigenous entrepreneurs. Aurora Heat plans to keep its workplace flexible and inclusive as it grows. Its broader vision includes food sovereignty and profit sharing for employees.