Toronto – June 5th, 2025: BOF Capital Inc. (“BOF Capital”), a newly launched initiative dedicated to tackling systemic economic barriers for Black communities, and Ourboro Inc. (“Ourboro”), a Toronto-based company that provides access to homeownership through shared equity, have partnered to introduce a $50M Ourboro BOF Capital Opportunity Fund.
The Ourboro BOF Capital Opportunity Fund is one of two new funds led by BOF Capital, and is specifically focused on increasing homeownership rates amongst Black communities. Latest data reveals that only 44 per cent of Black Canadians own homes, compared with 72 per cent of the broader population.
The second fund, the BOF Capital Growth Fund, will invest in Black-led businesses, targeting initial capital commitments of $100 million.
Said Craig Wellington, CEO of Black Opportunity Fund (“BOF”), the charitable organization behind BOF Capital: “We are creating innovative and sustainable pathways to economic empowerment by directly addressing the funding and opportunity gaps that have historically limited Black Canadians and those across the diaspora, from building generational wealth.”
“I am honoured to have the privilege to lead BOF Capital. We know that access to funding has long been a barrier for Black entrepreneurs, limiting opportunities for growth and success,” said Managing Director of BOF Capital, Gajan Kulasingam. “We also understand the importance of homeownership for wealth generation and socio-economic mobility for Black Canadians. BOF Capital is tackling these inequities head-on—providing the financial backing and strategic support needed to help Black businesses thrive while ensuring more Black families can achieve homeownership and build generational wealth.”
Said Nicholas Pope, Co-Founder and Chief Investment Officer of Ourboro, “As a social impact business, Ourboro is committed to catalyzing generational wealth for all Canadians. That makes the opportunity to partner with BOF Capital and address systemic barriers for aspiring Black homeowners all the more meaningful.”
“This new joint fund unlocks the social and economic benefits of homeownership for Black families in Canada,” said Miles Nadal, Founder and Executive Chairman of Peerage Capital, majority stakeholder in Ourboro. “We are privileged to have this opportunity to transform the dream of home ownership into a reality.”
A recent study reinforces the broader social, economic, and health benefits of homeownership: Research from Conestoga College’s Social Innovation Lab shows that Ourboro co-owners contribute to social stability with a strong feeling of belonging to their community, greater overall happiness, and greater satisfaction with their homes. They also have a more optimistic economic outlook: 80.6 percent anticipate a stronger personal financial situation in the next 12 months, compared with just 44.6 percent of active homebuyers.
For more information:
Alex Kjorven, Chief Product Officer
Gajan Kulasingam, Managing Partner
About BOF Capital
BOF Capital is a sponsored entity of Black Opportunity Fund (BOF), dedicated to empowering Black entrepreneurs and families through strategic investments in business and homeownership. As a private funded, Black-led investment initiative, BOF Capital is setting a new precedent in impact-driven investing.
About Ourboro
Ourboro is a private, Toronto-based company that co-invests up to $250K towards a buyer’s down payment, purchasing a share in the future value of the home. Once they are in their home, additional programs, such as maintenance check-ups and renovation credits, are available to co-owners to help preserve and increase property values. Ourboro investors gain residential real estate exposure by co-owning homes alongside vested homeowners. This is achieved through the management of several private real estate funds. Ourboro has a mix of public, private and institutional investors that include Scotiababnk, the Government of Canada, the LiUNA Pension Fund of Central and Eastern Canada, Peerage Capital and various others.
About Peerage Capital
Peerage Capital is a leading North American business services and private investment firm that forges long-term partnerships with entrepreneurial management teams. These cover several sectors including real estate services, real estate development and management, land assembly, self-storage, asset management, and wealth advisory services. It has a growing network of partner companies with approximately US$9 billion (C$13 billion) in total assets under management (AUM) and administration , selling over 60 Billion of sales of residential real estate across 6000 agents and 275 offices across North America.
