Weave Community Capital Fund reaches $7.5 million first close
Today, Weave Community Capital Fund announced the first close of its fund at $7.5 million CAD, raised from more than 15 investors. It's a significant milestone in our mission to democratize social impact investing, and we're grateful to every partner who helped get us here.
As Omar Mawji, fund manager of Weave, put it: "Our partners in this first close have gone far beyond a financial contribution to a social impact fund. They are catalyzing a structural shift in the democratization of social impact — one that is directed, developed, and delivered by communities, and for communities."
Why Weave exists
Community bonds let charities, non-profits, and co-operatives raise capital directly from investors, including everyday Canadians, to fund projects like affordable housing, clean energy, and social services. Investors receive a fixed return over time, supporting local initiatives while earning back their investment.
Weave was launched by the team behind Tapestry Community Capital, a national organization supporting community bond issuers, who noticed a gap. Ryan Collins-Swartz, co-executive director of Tapestry, explains: "At Tapestry, we saw a clear gap in the market: organizations with large amounts of capital to deploy, the kind that could accelerate community bonds at the projects they finance, were often left on the sidelines because their investment size didn't fit most individual community bond offerings. Weave was built to close that gap."
How the Fund works
Weave pools capital at the fund level and invests up to 25 percent of an issuer's raise target. That helps community organizations reach their goals faster, and it lets institutional investors participate alongside everyday community investors rather than crowding them out of individual campaigns. The result is Canada's first diversified portfolio of capital provided to community bond issuers.
The partners behind the close
Realize Fund I made the lead investment. The close also includes commitments from the Trottier Family Foundation, Heart Lake Committed Capital, Definity Foundation, The Congregation of the Sisters of St. Joseph in Canada, James A. Burton & Family Foundation, Dragonfly Venture Holdings, Genus Capital Management, Laidlaw Foundation, and Avanti Foundation.
Lars Boggild, portfolio manager of Realize Fund I at Realize Capital Partners, said: "Through Realize Fund I, we're proud to support Weave Community Capital Fund as it reaches its first close. Weave provides a unique vehicle to support community bonds, one of the fastest-growing tools in social finance, and to help non-profits, charities and other community organizations access the capital they need to grow. Community bonds let Canadians invest directly in causes they care about, and we see real potential for this approach to expand as organizations look for financing beyond traditional grants and loans. We're excited to play a lead role in helping this important fund launch and in strengthening the social finance sector while enabling deep community impact."
Karel Mayrand, CEO of the Trottier Family Foundation, added: "Nonprofits and co-ops across Canada are building the affordable housing, community spaces and local services their neighbourhoods rely on, yet financing remains a persistent barrier. By pooling community bonds into a single, professionally managed fund, Weave makes it possible for larger investors to support this work at scale. We're proud to take part in its first round."
Wayne Miranda, chief investment and program officer for Definity Foundation, shared: "At Definity Foundation, we've known for a long time that investing in community-led solutions can generate a return while also having a positive social impact. It's great to see Weave enabling more routes for more organizations to participate alongside community members. We see these opportunities as largely-secured investments with big ambitions – from affordable housing to social programming. These investments put capital to work while also reducing long-term – and costly – challenges for communities."
Putting capital to work across the country
Capital from the first close will go toward exploring investment opportunities in more than 10 projects across New Brunswick, Ontario, Quebec, and British Columbia, with a focus on supportive housing, affordable housing, renewable energy, and community real estate.
What's next
First close investors have already committed more than $3 million toward the second close, expected in Winter 2026. We're targeting $10 million in total.
Thank you to our first close partners for believing in this approach!