Thrive Impact Fund invested in Water Rangers in 2021. This case study shares Water Ranger’s journey from conception, to launch to facing a significant capital gap that was hindering their ability to grow. This case study demonstrates how friendly networks can mobilize capital, the importance of taking a ‘right capital at the right time approach,’ and how capital can unlock growth, even in a non-profit.

“I’d like to wave a magic wand so the resources available to a business could also be available to non-profit social enterprises. I keep looking at what’s on offer at national banks and with government funding for businesses, for example, and there tend to be active support, flexible financing and unrestricted operating funds available, and I think, ‘That’s exactly what I need!’… but I cannot access these resources, supports and services.”

Kat Kavanagh, Executive Director, Water Rangers

This case study was supported by Social Innovation Canada.