Renewal Funds is a mission venture capital firm investing in early growth stage companies in Canada and the United States. We add value for entrepreneurs through capital, networks, and expertise. We deliver above market returns for our partners while catalyzing positive social and environmental change.


We build ten year limited partnership portfolios as a general partner management company. We operate Canadian and US entities with investors from both countries, international partners come to us through our US LP. A trust instrument in Canada makes it easier for Canadian charitable foundations to participate.

Paul Richardson and Joel Solomon make final decisions collaboratively with a stellar team of mission motivated professionals in an ongoing search for outstanding entrepreneur partners.


Renewal Funds portfolio companies have strong values, exceptional ideas, products and services aligned with our core values.

Companies generally have a minimum $1 million in annual revenues and a compelling pathway to strong growth. We target $1 million initial investment.

Our sectors are traditionally under-served and are now building momentum. We agree on a shared exit strategy. We reserve capital for follow on investment to support the growth of our companies.

We usually serve on Boards and otherwise hold Observer rights. We bring our expertise and networks to add ongoing value.


Renewal Funds grew out of a partnership between Carol Newell and Joel Solomon. They met through a network of people using wealth for the common good and saw business as a unique opportunity to create change.

In 1994, Carol and Joel assembled a team, joined by Paul Richardson in 2003, to operate the investment and philanthropic sister entities Renewal Partners and the Endswell Foundation. The model was a whole portfolio activation to mission by one woman’s family office. With a 50-year strategic outlook inspired by a 500-year vision, their central focus was on their home region of Vancouver and British Columbia, Canada. While investing strategically through their larger networks across Canada and the USA, their aim was to model an integrated use of capital for long term change.

Renewal Partners has a 20+ year track record of aligning mission and purpose with successful debt and equity investments with entrepreneurs in an early triple bottom line model. Financial returns balance with positive community impacts and ecological intelligence.

The Endswell Foundation, founded and funded by Carol Newell, was an early pioneer using mission related investment strategies from its core asset base. Endswell was central to the Great Bear Rainforest initiative, the largest conservation development transaction on the planet, where Paul Richardson served in a major role. Endswell also innovated with social purpose real estate transactions in both rural and urban environments.

With Paul Richardson in the lead, Renewal Funds was launched, welcoming outside investors into its mission venture capital concept.