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Raven Indigenous Outcomes Funds Announces $20.4 Million First Close of Initial Fund

Press Release

VANCOUVER, BC, June 18, 2024  – Raven Indigenous Outcomes Funds (RIOF), a member of the Raven Fund Group dedicated to empowering Indigenous communities to address their most pressing issues through outcomes-based finance, today announced the first close of its initial outcomes fund at $20.4 million.

The groundbreaking Raven Indigenous Outcomes Fund I offers investors the opportunity to support meaningful, evidence-based climate and health initiatives to improve outcomes for Indigenous peoples. RIOF’s unique community-driven outcomes contracts (CDOCs) align social and environmental impacts with financial returns, allowing outcomes purchasers to only pay for what works to create long-term systems change.

Outcomes-based financing has already proven its effectiveness through the successful Fisher River Cree Nation and Peguis First Nation Climate CDOC, which installed 124 geothermal exchange units and provided on-reserve housing retrofits, training and employment opportunities. Also underway are the impactful Minoayawin CDOC, which is focused on reducing the burden of Type-2 Diabetes in the Island Lake Anisininew Nation in Manitoba, and the Sioux Valley Dakota Nation geothermal exchange CDOC.

The successful first close of Fund I shows the efficacy of this innovative finance model and the transformational impact it can have for Indigenous peoples. Its success has been achieved with the support of prominent impact investors from both Canada and the United States, including Boann Social Impact, Trottier Family Foundation, Lawson Foundation, Christensen Fund and the Sorenson Impact Fund among others.

“This is not a typical fund,” said Jeffrey Cyr, Founder & Managing Partner, Raven Indigenous Outcomes Funds and Co-Founder Raven Indigenous Capital Partners. “Instead, it is a groundbreaking investment opportunity that guarantees positive social impacts for Indigenous communities. This strong first close of our initial fund shows just how confident investors are in our impactful projects, and how outcomes-based finance is changing the game as an effective form of impact investing.”

“Boann Social Impact is committed to investing in solutions that uplift the lives of Indigenous communities while growing a strong social finance marketplace,” said Derek Ballantyne, CEO, Boann Social Impact. “The Raven Indigenous Outcomes Fund I is a transformative fund that pairs finance with positive social and environmental outcomes. We are proud that our $10 million anchor investment in this fund helped catalyze additional investment, and we know that this is only the beginning of RIOF’s transformational work in the social finance space.”

Fund I will continue to accept new investments throughout the year. For more information on RIOF, visit

About Raven Indigenous Outcomes Funds:

Founded in 2023, Raven Indigenous Outcomes Funds (RIOF Inc.), a member of the Raven Fund Group, is dedicated to outcomes-based finance, empowering Indigenous communities across Turtle Island to address their most pressing issues.

At Raven, we champion transformative change by rethinking how we tackle the complex challenges that Indigenous communities face across Turtle Island. Our approach is decolonized and impact-centric and grounded in the United Nations Declaration on the Rights of Indigenous Peoples (UNDRIP). Prioritizing Indigenous leadership, knowledge, and values, we utilize innovative financial models and tools to enhance the well-being, upliftment, and self-determination of Indigenous Peoples and communities.

Media contact: Jess Harris, Senior Consultant, Temple Scott Associates,, 437-227-6123



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