We are a women-led impact investment fund, and we mean it.
Every year, I take a look at the statistics on how many investment funds are majority-led by women. It has become a bit of a ritual; part curiosity, part accountability check, part reminder of the work still to do.
This year, the numbers came with a tone of optimism. There has been progress, I was told. The percentage of capital deployed through women-led funds has grown, from roughly 1% a few years ago to just over 3%.
3.06%, to be precise.
And while that is, technically, progress, it is also a moment that lands with a quiet sigh.
Because when women represent half the population, 3% is not a milestone. It is a signal. A signal that something deeper in the system is still not working the way it should.
At Thrive Impact Fund, we operate as a women-led impact investment fund within the broader impact investing sector.
And I will admit, I have often assumed that things might look a little different here. That assumption comes from experience. In this sector, I have met many women leading funds, building organizations, and shaping the direction of capital. At gatherings like the Blended Finance Summit, there is a noticeable shift in who is in the room; more representative, more diverse, and markedly different from what many would describe as “regular finance” spaces.
But assumptions are not the same as reality.
The gender disparity in finance is still very real. And while impact investing may feel different, it is not separate from the broader system it exists within.
At Thrive, we take that seriously.
Not as a talking point, but as a commitment.
What it looks like in practice
Being a women-led impact investment fund is not a label we use lightly. It shows up in how we build our team, how we structure leadership, and how we think about the future of the Fund.
Right now, 4 out of 5 members of our Board of Directors are women.
When we set out to expand our Board, we were intentional about who we invited into that space. We wanted to bring in younger women, leaders who could contribute fresh perspective, energy, and values as Thrive continues to grow.
We are proud to welcome Kristin Richard and Laurel Sabur to the Board. They join Kristi Rivait, myself, and Andrew Greer in guiding the direction of Thrive Impact Fund.
Our core team tells a similar story.
Thrive’s team of four is made up of three women. Nicole Bradbury and Morgan Brannon are central to the work we do every day, building partnerships, sourcing investments, and supporting the organizations in our portfolio.
Beyond the team and Board, our Impact Investment Committee plays a critical role in decision-making and guidance. Over the life of the committee, 7 out of 9 members have been women.
And when we look at the organizations we invest in, the pattern continues.
55% of our portfolio organizations are led by women.
That is not incidental. It reflects both who is building impactful enterprises in our communities, and how capital flows—or doesn’t—toward them.
A broader context
Thrive Impact Fund exists to provide flexible and patient capital to organizations working on some of today’s most pressing challenges. We invest in non-profits, co-operatives, and for-profit social enterprises across British Columbia that are generating social, environmental, and cultural benefits.
As a women-led impact investment fund, our approach is impact-first. Financial returns do not come at the expense of the organization’s mission or the outcomes they are working toward.
We know that many strong projects struggle to access capital. Not because they lack potential, but because they do not fit neatly into traditional lending frameworks. Incorporation structure, perceived risk, lack of collateral, or bias—these factors can all create barriers.
Our role is to help remove those barriers.
We provide flexible financing options, including term loans, bridge financing, and revenue-based financing, tailored to the needs and growth trajectories of the organizations we work with.
We also provide something equally important: support.
Thrive takes a hands-on approach, offering wrap-around support, peer learning, and access to networks to help investees succeed.
Do women make Thrive a better fund?
It is a fair question.
My perspective—part observation, part hypothesis—is that women make Thrive a different fund.
At Thrive, we are close to the ground.
We pay attention to the organizations that often get passed over. The ones that may not check every conventional box, but are deeply connected to their communities and solving real problems.
Recently, we made our first investment into childcare, an area that is essential to community wellbeing and economic participation.
We lean heavily into relationships.
This is not a transactional model of finance. It is one that recognizes that organizations are made up of people, and that success is built over time through trust, communication, and shared understanding.
Our thesis is simple: there are great projects that struggle to access capital. And too often, the reasons have less to do with the strength of the project and more to do with systemic barriers, including gender and other forms of bias.
Being a women-led impact investment fund does not automatically solve these issues. But it does influence how we see them, and how we choose to respond.
Systems change, one step at a time
When the numbers are as disproportionate as they are—3% representation in capital deployment compared to 50% of the population—it points to structural issues.
At Thrive, we believe in incremental change that builds over time.
- In making intentional decisions about who is at the table.
- In directing capital in ways that align with values.
- In supporting organizations that are working toward meaningful outcomes.
Because systems change is rarely a single moment.
And then, sometimes, it happens all at once.
Whoosh.
Looking ahead
The statistics will continue to be tracked.
But the work is not just about numbers.
It is about who is included in decision-making. Who has access to capital. Whose ideas are supported.
At Thrive, we will continue to build as a women-led impact investment fund that reflects our values: impact-first, relationship-driven, and committed to supporting organizations that are often overlooked.
Because being women-led is not a statement.
It is a practice.
And we mean it.