Toronto-Based BKR Capital Raises $20M For Its Second Fund To Invest In Black-Led Tech Companies – AfroTech
A venture capital firm supporting Black tech companies has closed its second fund.
Led by Managing Partner Lise Birikundavyi, alongside co-founder Isaac Olowolafe, Toronto-based BKR Capital invests in technology or technology-enabled startups. According to the firm’s website, they target companies with diverse teams that have at least one Black founder and are at the pre-seed to seed stage. The firm primarily focuses on companies based in Canada, though up to 10% of its portfolio may be global.
“We need to keep innovation at home,” Birikundavyi explained, according to The Globe and Mail. “We all want a Canada that is strong economically – where our children can grow up and have everything they need.”
BKR Capital has raised $20 million for its second fund, aiming to reach $50 million by the end of 2026, per The Globe and Mail. The raise was supported by Royal Bank of Canada, Business Development Bank of Canada, Export Development Canada, and others, according to Shoppe Black.
BKR Capital’s work aims to address the funding gap highlighted by the 2026 Black Startup Funding Report, which found that Black-led startups in Canada received just $10 million in venture capital across 11 companies, according to BetaKit. BKR Capital has invested in 15 tech companies through its first fund, which raised more than $22 million, reports the outlet.
According to The Globe and Mail, the firm’s portfolio includes healthcare startups, a focus Birikundavyi says is increasingly important as resources become more constrained. One example is Moneta Health, a digital health startup serving patients with early-stage dementia, traumatic brain injuries, and other forms of mild cognitive impairment. Other investments include Woveo, an AI-powered financial platform, and Protexxa, a cybersecurity platform.
“These innovators are working on problems that affect everybody,” Birikundavyi said, according to The Globe and Mail. “We believe we played a key role in making sure they were able to bring their innovation to the world.”
