Keewaywin Capital Marks Initial Close of First Indigenous Housing-Focused Private Credit Fund
Initial raise of $10 million to be used to accelerate on- and off-reserve housing projects
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TORONTO — Keewaywin Capital Inc., an Indigenous-led private credit investment firm focused on housing development for Indigenous communities across Canada, has announced the initial close of its inaugural Fund I, securing more than $10 million in commitments.
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With commitments from limited private-capital partners including Realize Capital, Rally Assets, Addenda Capital, and the Tachane Foundation, the fund will help launch on-reserve housing and related infrastructure projects in both on- and off-reserve communities.
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The initial close of Fund I marks the first public-private partnership focused on funding Indigenous housing construction under Canada's newly formed government, which has made addressing the country's broader housing crisis a top priority.
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Keewaywin Fund I will invest in scalable, community-led housing projects driven by and for Indigenous communities on and off reserve. Initial capital deployments are planned for this summer, with early projects set to include:
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A modular housing development of up to 30 homes in Northern Manitoba;
A CMHC Section 95 project in Central Manitoba.
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'Fund I offers private investors a meaningful way to connect with and invest in Indigenous communities, something that hasn't existed in this form in this country before,' says Tracee Smith, founder and CEO of Keewaywin and a member of the Missanabie Cree First Nation. 'With a $44 billion shortfall to meet current housing needs, and another $16 billion required by 2040 to support population growth, it is imperative that governments and the private sector work together to ensure that future generations have the space and infrastructure to remain in and connected to their communities.'
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'This fund, led by changemaker Tracee Smith, represents the kind of community-rooted innovation our Impact Fixed Income strategy is designed to support,' says Carl Pelland, Vice-President, Fixed Income, and Head, Corporate and Impact Bonds at Addenda Capital. 'It aligns closely with our community development theme by directing capital toward Indigenous led solutions that recognize housing as a foundation for broader social and economic outcomes.'
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Pelland adds: 'This investment opportunity represents a promising step toward scalable social impact, delivering value for investors while supporting the economic advancement of Indigenous communities both on- and off-reserve. We're proud to be partnering with Keewaywin Capital on this important initiative.'
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'We're glad to contribute to this fund, which represents a much-needed opportunity to help accelerate the delivery of community-driven housing by Indigenous communities, creating long-term value and resilience,' says Lars Boggild, Portfolio Manager, Realize Capital Partners, a wholesaler for the Government of Canada's Social Finance Fund. Realize Capital is powered by Rally Assets.
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Keewaywin Capital anticipates full commitment of the proceeds raised for Fund I by the end of 2025. The firm is exploring additional potential projects that, pending scale, would seek to deploy additional capital and resources in 2026.
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About Keewaywin Capital Inc.
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Keewaywin Capital Inc. is a 100% Indigenous-owned private credit investment fund focused on dedicated housing development for Indigenous communities across Canada. The firm provides short-term construction loans to accelerate Indigenous-led development, and works in close partnership with community leaders, government agencies, and private capital to deliver sustainable housing solutions that best suit individual Indigenous communities.
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