BRK Capital announced Monday that its Fund II has closed $20 million CAD (around $14.5 million USD), bringing it closer to its $50 million CAD target. The Toronto-based venture firm, led by managing partner Lise Birikundavyi, is investing in high-growth technology companies founded by Black entrepreneurs.

This fund targets solutions for the future of work, living, and global connectivity, with average check sizes between $250,000 to $1.5 million. Birikundavyi noted that nearly 70% of Canada's Black population are first or second-generation immigrants, creating founders who build globally from day one and gain early access to international markets.

The firm launched in 2021 and raised $22 million for its Fund I, which Birikundavyi said is performing better than at least 75% of funds launched around the same time. BRK Capital aims to make its final close for Fund II in December and invest in 25 companies.