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Affordable housing community in Southwestern Ontario
Impact Investment

Connecting Capital with Community Need

136,000 Ontario families are on a waitlist for a home. We are building the solution. Foundation Capital's Affordable Housing Fund creates safe, quality housing for the most vulnerable Canadians while delivering purposeful returns to investors who believe capital should do more than just grow.

Partner With Us Learn About the Fund
6%
Target Annual Return
$60M+
AUM (Foundation Capital)
18
Properties Managed
350+
Units Across SW Ontario
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The Reality

Canadians Are Losing Their Homes

This is not a statistic. It is a mother choosing between rent and groceries. A senior living in a shelter. A young family crammed into a basement apartment with no way out. Ontario is at the center of Canada's worst housing crisis in a generation.

4.8M
New homes needed across Canada by 2035 to restore affordability
1.48M
Additional units needed in Ontario alone
136K+
Ontario households on social housing waitlists
62%
Of Canadian renters spend over 30% of income on housing

A child growing up on a waitlist did not choose this. We can choose to fix it.

Nearly 1.7 million Canadian households are in core housing need. In Ontario, the average wait for social housing is over a decade. A single mother in London, Ontario will wait 7 to 10 years just to hear back. These are real people. Our neighbors.

The private sector has a role to play. Foundation Capital is not waiting for someone else to solve this. We are acquiring, renovating, and operating affordable housing right now, in real communities across Southwestern Ontario. Every unit we create is one fewer family left behind.

Join the Solution
Thriving Ontario neighborhood
Our Mission

Purposeful Performance

We believe housing is a human right.

We start with understanding community need and work from there. Every investment decision begins with one question: how many families will this house? Then we build the returns around that answer. We also invest and co-invest in collaboration with not-for-profit partners to maximize community impact.

House the Vulnerable

Seniors, single parents, new Canadians, people with disabilities. These are the families we serve. We acquire and operate multi-family properties in communities where affordable housing is needed most, maintained to a standard every resident deserves.

Strengthen Communities

A child with a stable home does better in school. A parent who is not choosing between rent and groceries shows up stronger at work. Safe, affordable housing does not just change a family. It changes a neighborhood, a school, a city.

Aligned with the UN SDGs

Our fund is aligned with UN Sustainable Development Goal 11: access to adequate, safe, and affordable housing for all. Our work also supports SDG 1 (No Poverty) and SDG 10 (Reduced Inequalities). Global purpose, local impact.

The Fund

Foundation Capital Affordable Housing Fund

An impact investment fund for anyone who believes every Canadian deserves a safe, affordable place to call home. Deploy capital into real housing with a proven Southwestern Ontario operator.

Fund Overview

Target Annual Return 6%
Asset Class Multi-Family Residential
Geography Southwestern Ontario
Affordability Standard Rents at or below 80% of AMR
Fund Structure Limited Partnership
Minimum Investment $50,000
Investment Term 5 Years
Target Investors Impact-Oriented Investors & Institutions
Fund Status Accepting Capital Partners
Operator Track Record $60M+ AUM, 350+ Units, 18 Properties

Housing the Most Vulnerable

Our mission is to provide quality homes for the people who need them most. Every unit we acquire is a family housed, a community strengthened, and a life stabilized. This is people first investing.

Government Aligned

Positioned to access federal and provincial housing programs including CMHC co-investment funding, municipal incentives, and property tax reductions for affordable housing providers.

Proven Operator

Managed by the same team behind FCPRET: $60M+ in assets under management, 350+ units across 18 properties in Southwestern Ontario. A track record of consistent performance since 2023.

Aligned with UN Sustainable Development Goals

Our fund is aligned with UN SDG 11: Sustainable Cities and Communities, specifically Target 11.1 to ensure access to adequate, safe, and affordable housing for all by 2030. Our work also supports SDG 1 (No Poverty) and SDG 10 (Reduced Inequalities) through direct investment in community housing infrastructure.

Long-Term Affordability

All acquired properties maintain rents at or below 80% of the Average Market Rent (AMR) for a minimum of 20 years. Affordability covenants are embedded in the partnership structure, ensuring lasting community impact.

Our Impact So Far

Already Housing Canadians

The Affordable Housing Fund is new, but the team and platform behind it are not. Foundation Capital already houses over 1,000 residents across Southwestern Ontario. We know how to do this because we are already doing it.

350+
Units Managed Across FC Portfolio
18
Properties Across SW Ontario
$60M+
Assets Under Management
1,000+
Residents Housed Today
Modern affordable apartment building
Family in their new affordable home
Affordable housing under construction
Why Us

Why Foundation Capital

We are not just raising capital. We are building homes. Here is what sets us apart.

350+ Units Managed

Real operational experience across 18 properties in Southwestern Ontario. We know these markets because we already manage them.

$60M+ AUM

Institutional scale with hands-on management. Our track record is built on performance, not promises.

20 Year Covenants

Every property carries a minimum 20-year affordability covenant. This is not short-term. It is generational impact.

Same Proven Team

The Affordable Housing Fund is managed by the same principals behind FCPRET. Same expertise, new mandate.

Thriving affordable community in Ontario
Why This Matters

Your Capital Can House Canadians

This is not abstract impact. Every dollar you invest creates tangible, measurable outcomes: real keys handed to real families in real communities across Ontario.

  • Every unit acquired is a family taken off a waitlist
  • Canada needs 4.8 million new homes by 2035. We are building now.
  • Government incentives and CMHC programs support affordable housing operators
  • Near-zero vacancy: affordable housing demand never stops
  • 20-year affordability covenants protect residents long term
  • Aligned with UN SDG 11: Safe, affordable housing for all
Invest in Impact
Strategic Partnerships

Aligned with Government Priorities

The Foundation Capital Affordable Housing Fund is structured to work alongside government agencies, institutional funds, and non-profit organizations. We are actively pursuing partnerships with programs that invest capital into qualified housing operators to accelerate affordable housing creation across Ontario.

Our fund's structure, affordability covenants, geographic focus, and proven operating track record align with the priorities of Canada's most significant housing investment programs. Your capital, our expertise, real communities served.

CMHC Co-Investment Aligned
Ontario Housing Strategy
Municipal Partnerships
UN SDG 11 Aligned
20-Year Affordability Covenants
Energy Efficiency Focus
Government and private sector partnership meeting
How It Works

Our Investment Process

From initial conversation to capital deployment, here is how we bring partners and communities together.

1
Introductory Meeting
Schedule a call with our principals to discuss the fund thesis, your mandate, and alignment between your capital deployment goals and our housing strategy.
2
Due Diligence & Structuring
Review the offering documents, affordability framework, target markets, and reporting structure. We work transparently to meet your compliance and governance requirements.
3
Deploy & Build Together
Finalize the partnership, deploy capital into affordable housing acquisitions, and begin creating real impact in Southwestern Ontario communities.
Deployment Strategy

Where Your Capital Goes to Work

The Affordable Housing Fund is actively seeking its first acquisitions. These are the types of properties we will acquire: well maintained, community serving multi-family buildings that become safe, affordable homes for the families who need them.

Multi-family property, London ON Target Asset Type FC Portfolio
London, Ontario

Well-maintained multi-family property with modern amenities and on-site parking. Representative of the asset profile the Affordable Housing Fund will acquire.

Multi-Family
Parking
Mixed-use property, Ingersoll ON Target Asset Type FC Portfolio
Ingersoll, Ontario

21-unit mixed-use property in a growing secondary market. Exactly the type of community-serving asset we will acquire under the Affordable Housing Fund.

Mixed-Use
10,600 sq ft
Multi-family property, Chatham ON Target Asset Type FC Portfolio
Chatham, Ontario

13-unit multi-family property near Chatham Hospital. Demonstrates our focus on housing essential workers and families in underserved communities.

13 Units
9,689 sq ft
Leadership

Managed by a Proven Team

The Affordable Housing Fund is managed by the same experienced principals behind Foundation Capital's $60M+ portfolio.

Pirasaanth Varatharajan
Pirasaanth Varatharajan, CPA, CA
Principal & General Partner
Former Big Four CPA bringing disciplined, data driven oversight to underwriting, forecasting, and capital deployment at Foundation Capital.
Mithulan Perinpanayagam
Mithulan Perinpanayagam, CPA CA
Principal & General Partner
CPA with over twelve years of experience. Previously managed billion dollar asset portfolios at Dream Unlimited. Underwrites acquisitions and structures financing.
Jeff Wybo
Jeff Wybo, CD
Principal & General Partner
Head of Operations. Canadian Army veteran with two combat deployments. Licensed broker with deep local networks and a proven ability to source off market deals across Southern Ontario.
What Investors Say

Trusted by Real Investors

Hear from investors who trust Foundation Capital with their portfolio. These experiences reflect our market-rate REIT (FCPRET), managed by the same team behind the Affordable Housing Fund.

I spent a month reviewing everything before I committed. A year in, distributions consistent, reporting exactly as promised.
JT
James T.
CPA, Ottawa
The distributions hit every month. I barely think about it, and that is exactly the point.
MF
Michael F.
Business Owner, Hamilton
Same real estate exposure, similar returns, zero involvement. Best financial decision I have made in the last decade.
SO
Sandra O.
Former Landlord, Brampton

Individual experiences vary. Targeted returns are not guaranteed. Investments carry risk.

FAQ

Frequently Asked Questions

What is the Foundation Capital Affordable Housing Fund?

The Affordable Housing Fund is a private real estate limited partnership focused exclusively on acquiring, developing, and managing affordable multi-family housing in Southwestern Ontario. It is a separate fund from FCPRET, with its own mandate centered on maintaining below-market rents while delivering stable returns to investors.

How is "affordable" defined?

Affordable rent is defined as 80% of the Average Market Rent (AMR) for the local area. Our fund maintains rents at or below this threshold. This aligns with CMHC and federal co-investment program requirements and ensures our properties serve Canadians who need affordable housing most.

What return can I expect?

The fund targets a 6% annual return. But the real return is measured in families housed and communities strengthened. Affordable housing benefits from near-zero vacancy, government incentives, property tax reductions, and co-investment capital. This is an investment where doing good and generating returns are not at odds. Targeted returns are not guaranteed and all investments carry risk.

How does this differ from FCPRET?

FCPRET is Foundation Capital's market-rate private REIT targeting 15% annual returns. The Affordable Housing Fund is a purpose-built vehicle with a social impact mandate, lower target returns (6%), and affordability covenants on all properties. Both are managed by the same experienced team, but with distinct investment theses and portfolios.

Who is this fund designed for?

The Affordable Housing Fund is for anyone who wants their capital to make a real difference: institutional investors, non-profit organizations, social impact funds, government programs, and individual investors who believe housing is a human right. Whether you are deploying millions or making a personal impact investment, this fund provides a direct channel to create affordable homes with a proven operator.

Are you partnering with government programs?

Yes. The fund is structured to align with CMHC's National Housing Co-Investment Fund criteria and other federal/provincial programs that provide capital, low-interest loans, or contributions to qualified affordable housing funds. We are actively pursuing these partnerships to amplify the fund's impact and reduce the cost of capital.

What markets do you invest in?

We focus on Southwestern Ontario secondary markets including London, Ingersoll, Chatham, and surrounding communities. These markets offer stronger cap rates than the GTA, high rental demand, and growing populations. Our deep local knowledge in these markets gives us a sourcing and management advantage.

What is the minimum investment?

The minimum investment in the Affordable Housing Fund is $50,000. This fund is open to institutional investors, non-profit organizations, government programs, and individual investors who meet suitability requirements. Prospective partners should consult with a qualified financial advisor to determine if this investment aligns with their goals.

What is the investment term and how do I receive my return?

The Affordable Housing Fund has a 5-year investment term. Your capital grows at a targeted 6% annual return, which accrues over the hold period and is realized upon redemption. There are no periodic distributions during the term. This structure allows us to deploy capital into long-term affordable housing acquisitions without distribution pressure, maximizing impact and stability. Targeted returns are not guaranteed and all investments carry risk.

How is capital deployed?

Capital is deployed into the acquisition, renovation, and management of multi-family residential properties across Southwestern Ontario. Each property is underwritten to maintain rents at or below 80% of the Average Market Rent for a minimum of 20 years. We target well maintained buildings in high-demand rental markets where our team has deep operational expertise. Capital is deployed on an ongoing basis as qualified properties are identified and acquired.

Take Action

Your Capital. Their Home.

You do not need to be an institution to make an impact. Whether you are a non-profit, a foundation, a government program, or an individual who believes every Canadian deserves a roof over their head, there is a place for you here. Every dollar invested is a family closer to home.

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Important Disclosure: The Foundation Capital Affordable Housing Fund is a private investment vehicle currently in its capital formation stage. Targeted returns of 6% annually are not guaranteed. All investments carry risk, including the potential loss of principal. This page is for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities. Prospective partners should review the offering documents and consult with qualified legal and financial advisors before committing capital.

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