Put Your Money Where Your Mouth Is!
For a limited time, Modo Members who join Knives and Forks will receive $50 in free drive time.
What are CICs?
Community Investment Co-ops (CICs) are new and innovative platforms for impact funds that support local economic and business development and effectively bridge the gap between local investors and local ventures in need of financing. These co-operatives are beginning to appear across British Columbia.
About Knives & Forks
With some initial and ongoing support from Vancity, Knives and Forks CIC was founded in 2015 to provide capital to invest in local, food-related businesses with outstanding management, the capacity for innovation and with demonstrated demand for their product or service. In addition to funding, the co-op provides knowledge transfer and mentoring to the businesses it invests in.
Who can invest?
Anyone concerned about the social, economic and cultural needs of local food in BC can become a member, with a $100 share purchase. Being a member gives you a vote and a say in which local businesses receive funding at our Pitch events. But where your help is most needed, is at the individual investment level. By purchasing up to two shares of $2,400 each, you can create meaningful and lasting impact on our local food landscape and provide the Co-op with a stable capital base.
A couple of times a year, a small number of food-related businesses are selected by the Knives and Forks Board to do a pitch for investment to the members of the co-op. At pitch events, members vote on who they would like to see move forward in the investment process. Finalist businesses move through a due diligence process that includes a review of their business plans, financial projections and an assessment of risk before a decision is made by Board of Directors.
One such successful pitch-maker was Dylan Jones, Founder of Coast Protein, who set out to find a high-quality protein that not only tasted great, but could be harvested sustainably. Who knew that crickets would be the answer! Products marketed today include protein powders and energy bars. “Knives and Forks provided funding and support at a critical time, helping Coast to finalize product development and formalize product offerings to customers and the food industry all over Canada,” says Jones. “We are growing fast in no small part due to this early stage funding.”
Sound interesting? Knives and Forks has a pitch event planned for April 10th. Come out to the event and see if CIC investing is right for you! Space is limited, so get your Eventbrite ticket today. In the meantime, feel free to reach out at firstname.lastname@example.org.