Wealth has long been weaponized, creating divisions based on social class and excluding Indigenous Peoples from having a seat at the table. To shift the narrative and usher in true economic reconciliation, money needs to be used as medicine and matrilineal ways need to be restored.
We spoke with Sage Lacerte, Founder & CEO of Sage Initiative, about how this collective is accelerating the rematriation of the Indigenous economy by supporting Indigenous womxn in the impact investment space.
What was the “spark” that first inspired you to start Sage Initiative?
As my mentor, Carol Anne Hilton, CEO and Founder of The Indigenomics Institute, says, “We are living in a time of Indigenous economic resurgence.” Sage Initiative was founded in 2019 and was an expression of love for all my relations, for Mother Earth, humans, and non-human beings.
The “spark” that first inspired me to start Sage Initiative was when I learned more about how rich our Indigenous economy is and the realization that we are currently witnessing a generational shift in action and mindset toward a resurgence of Indigenous concepts of commerce.
I asked, how can the impact investment sector contribute to the betterment of Indigenous communities in Canada? How can more Indigenous womxn take a seat at the economic table? How can impact investors participate in economic reconciliation and make values-aligned investments in Indigenous women and Two-Spirit–owned businesses?
Despite the growth in impact investing in Canada, Indigenous communities and businesses have stated that access to capital remains a significant impediment. Attracting patient capital for Indigenous-led businesses requires work on both sides: investors must familiarize themselves with potentially new business models, and entrepreneurs must be able to build their network, be willing to build partnerships, and showcase their work.
In our matrilineal societies, the matriarchs decide what the needs are of the community. So, by becoming investors, we are healing. That’s very central to the work of decolonizing, and it’s very central to the way that Indigenous commerce systems have worked for a very long time.
We want to shift the narrative because the systems of capitalism use wealth as a tool to divide people based on social class, and that system was not built with Indigenous people in mind. We are restoring our balance within ourselves and with the land. We are decolonizing wealth and restoring money as medicine.
This innovation brings an Indigenous approach to wealth. Circular in nature, our interwoven pedagogy introduces technical investing skills and practices with a balanced approach to investment that equally values social, environmental, and economic benefits. This is my chosen mechanism to promote intergenerational wealth and prosperity.
What do you consider to be your biggest success? Can you share any stories of the impact your work has had that have surprised you?
Sage Initiative was chosen as one of the first selected projects of the highly innovative program, the Indigenous Innovation Initiative.
One of the largest impact-first investors in Canada, Grand Challenges Canada (GCC) has supported a pipeline of over 1,300 innovations in 106 countries. The Indigenous Innovation Initiative (I3) is the first GCC program delivered in Canada with a focus on innovations led by Indigenous womxn innovators. The 10 selected projects have created impact across diverse areas, such as pre- and post-natal health, sustainable beauty, human sex trafficking and sex exploitation, and food sovereignty and sustainability.
As a result of this support, Sage Initiative has set the precedent for Indigenous womxn in impact investment globally.
This year, Sage Initiative will host our third cohort of 15 Indigenous womxn impact investors and begin our journey transitioning to scale across Canada.
Our great successes this year have been hosting our first Sage Initiative Harvest Ceremony in Victoria, British Columbia, where members of cohorts 1 and 2 gathered for a week of ceremony and reflection to provide meaningful evaluation for the Initiative.
We also hosted two pitch events featuring Indigenous womxn–owned businesses from across Canada, including Chelsee Pettit from ᐋᓃᓐ aaniin retail inc., ENB Artisan, and The Yukon Soaps Company.
We have graduated two cohorts of Indigenous womxn impact investors from Ottawa, Toronto, Vancouver, Tofino, Squamish, Edmonton, Burns Lake, Nanaimo, Halifax, and many more.
In our evaluation, investors have reported:
- “Sage Initiative has allowed me to think much further into my future with more intention and critical thinking. I’ve adopted an intergenerational mindset when it comes to money, whether that ends up being my own children and grandchildren, or simply youth as a whole that deserve this knowledge and to be continuously uplifted.” – Sage Initiative participant
- “It’s transferred to other aspects of my life — when I stopped getting dopamine fixes from online shopping, I’ve traded it for kickboxing routines three times per day. I see my health as an investment now.” – Sage Initiative participant
- “As a result of Sage Initiative, I have given myself permission to spend without feeling guilty or anxious.” – Sage Initiative participant
- “My views have been completely altered since I myself have become an investor after being a part of Sage Initiative. I now see potential in everyone to be an investor especially the people and Indigenous people that will do good and be inclusive with their investments.”– Year 2 participant
- “I feel worthy of money now. Money always felt unattainable. I never thought it would come into fruition for me.” – Year 1 participant
- “I met investors who had a good heart and were just everyday people, not necessarily working in a bank. Investors can be my aunties, my cousins, my family.”– Year 1 participant
We have also found that:
- 100% of Sage Initiative participants feel ready to make an investment.
- 100% of Sage Initiative participants have made an investment since joining the collective.
- 80% feel they could now be a successful social impact investor.
- Not only did our program create the trauma-informed safety conditions to create belonging for participants, 95% of Sage participants said they felt belonging in the Indigenous Impact Investor community.
How do you feel having a platform and community help to make the world better?
Sage focuses on Indigenous-owned sustainable energy projects, underscoring the urgent need to address environmental concerns alongside social impact.
Financial capital alone is insufficient. We emphasize the importance of social capital, community connections, gift economy, and entrepreneurial mindset. We facilitate access to financial resources, networks, and mentorship. The Initiative aims to empower Indigenous women and non-binary individuals to feel a sense of belonging in the impact investment landscape. We work to transcend the current investment paradigm which privileges androcentric and extractivist worldviews.
Creating a seat at the economic table for Indigenous women, two-spirit, non-binary folks is deeply important to me. The purchasing power of the queer community is significant. The entire venture capital industry is led by white cisgender males, and because of that there is an implicit bias. 2SLGBTQIA+ founders are routinely overlooked and undervalued. Many members of the queer community relate to each other with feelings of longing to belong and feeling out of place in heteronormative environments. Not only are we looking to support Indigenous founders, but building on this demographic, it is important to define a 2SLGBTQIA+ lens in our impact investment thesis.
Roughly 2 million people in Canada identify as 2SLGBTQIA+, collectively spending $90 billion per year. I want to role model what it looks like for a queer Indigenous woman to stand at the forefront of innovation in the Indigenous impact investment landscape.
What are some of the challenges you typically face in building out your audience?
My personal journey and academic background in gender policy shaped the design of Sage Initiative. Instead of perpetuating the Western-centric approach prevalent in mainstream finance education, I recognized the importance of honouring Indigenous epistemology and creating a curriculum rooted in Indigenous concepts of commerce.
I did not want anyone in the industry to assume that Indigenous womxn’s success is due to our gender but rather our skills and competence.
I have also faced racism. Economic reconciliation will look like white people being comfortable with Indigenous people’s wealth.
Are there any upcoming initiatives or projects you’d like to share?
Sage Initiative is planning to launch our third impact investment cohort of 15 Indigenous womxn impact investors in September 2024. We plan to transition to scale in 2024 as well, with cohorts across Canada widely available to Indigenous and non-Indigenous folks!
How can people help support your mission?
We invite Indigenous womxn to apply to Sage Initiative.
If you would like to lend your expertise and lived experience, join Sage Initiative`s national network as a mentor.
We also encourage you to buy Indigiqueer-owned products and services, educate yourself on colonization and how to engage in reconciliation, and create space at the economic table for equity-deserving communities.
This story was featured in the Make The World Better Magazine:
