Key Takeaways
- • Renewal Funds received the 2026 Canadian Venture Capital & Private Equity Association (CVCA) Regional Impact Award for Western Canada, recognizing its investment and successful exit from Cascadia Windows & Doors.
- • Cascadia Windows & Doors scaled manufacturing operations in British Columbia and grew its employee base by more than 7x over Renewal Funds' 10-year investment period, establishing itself as one of North America's largest energy-efficient building envelope product manufacturers.
- • Cascadia's fiberglass window frames deliver up to 250% improved thermal performance compared to traditional aluminum windows, positioning the company at the forefront of sustainable building products in Canadian manufacturing.
- • Renewal Funds' initial $5 million equity investment in Cascadia was supported by additional capital commitments, including $30 million from Canada Growth Fund dedicated to clean technology commercialization, demonstrating institutional backing for the venture.
- • The award underscores the CVCA's recognition of impact-driven venture capital strategies that combine financial returns with measurable contributions to sustainable manufacturing and clean technology adoption in North American markets.
Summary
Renewal Funds, a Canadian impact-focused venture capital firm, has been honored with the 2026 CVCA Regional Impact Award for Western Canada for its investment in and subsequent exit from Cascadia Windows & Doors. The recognition was presented at the CVCA's annual awards ceremony in Halifax, with Geordan Hankinson accepting on behalf of Renewal's partnership team, including Paul Richardson, Mike Cormack, and Genevieve Pinto, alongside Cascadia management led by Mike Battistel.
The investment represents a decade-long partnership that transformed Cascadia into a leading North American manufacturer of high-performance building envelope products. Over the investment period, the company scaled its British Columbia manufacturing facility and expanded its workforce by more than 7x, establishing production capabilities for globally competitive, energy-efficient window systems. Cascadia's proprietary commercial-grade fiberglass frames achieve thermal performance improvements of up to 250% compared to conventional aluminum windows, positioning the company as a technology leader in the sustainable building materials sector.
Capital support for Cascadia's growth came from multiple institutional sources. Renewal Funds made an initial $5 million equity investment, while Canada Growth Fund committed $30 million specifically to support clean technology commercialization efforts. Additional growth financing was facilitated through partnerships with firms including Blue Earth Capital and MKB Equity Partners, which led a subsequent growth investment to accelerate North American expansion and adoption of Cascadia's energy-efficient products.
The CVCA Regional Impact Award recognizes venture capital investments that demonstrate measurable returns alongside substantive environmental, social, or economic impact. Cascadia's success in scaling Canadian manufacturing of sustainable building products while establishing market leadership in high-performance windows exemplifies the award criteria. The recognition reflects the growing institutional validation of impact-driven venture strategies that align financial performance with clean technology advancement and domestic manufacturing competitiveness.
The investment represents a decade-long partnership that transformed Cascadia into a leading North American manufacturer of high-performance building envelope products. Over the investment period, the company scaled its British Columbia manufacturing facility and expanded its workforce by more than 7x, establishing production capabilities for globally competitive, energy-efficient window systems. Cascadia's proprietary commercial-grade fiberglass frames achieve thermal performance improvements of up to 250% compared to conventional aluminum windows, positioning the company as a technology leader in the sustainable building materials sector.
Capital support for Cascadia's growth came from multiple institutional sources. Renewal Funds made an initial $5 million equity investment, while Canada Growth Fund committed $30 million specifically to support clean technology commercialization efforts. Additional growth financing was facilitated through partnerships with firms including Blue Earth Capital and MKB Equity Partners, which led a subsequent growth investment to accelerate North American expansion and adoption of Cascadia's energy-efficient products.
The CVCA Regional Impact Award recognizes venture capital investments that demonstrate measurable returns alongside substantive environmental, social, or economic impact. Cascadia's success in scaling Canadian manufacturing of sustainable building products while establishing market leadership in high-performance windows exemplifies the award criteria. The recognition reflects the growing institutional validation of impact-driven venture strategies that align financial performance with clean technology advancement and domestic manufacturing competitiveness.
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