Alfred Burgesson has won the 2025 Emerging Leader Award from the Ottawa-based think tank Public Policy Forum. 

In a profile announcing the award, the Founder and CEO of Halifax-based Tribe Network said that the organization is on track to raise $20 million for its first venture capital fund, the next big project for the organization. The group has found a lead investor who contributed $2 million and other investors are also signing up as limited partners.

Burgesson founded Tribe, an innovation hub that supports BIPOC entrepreneurs, four years ago and it currently has around 2,000 members and operates a community centre in downtown Halifax. The group offers grants of $500 to $5,000 as well as programing and mentorship. Around 60 percent of funding comes from governments, the rest from private sources, he said.  

Tribe hopes its new VC fund will reach $10 million by September, with the remainder of the money coming early next year, said Burgesson. The fund will become functional this fall, he said.

“Two years ago, when we said we’re going to raise a $20 million venture fund, people in Atlantic Canada were [like], ‘Oh, that seems so much! Why don’t you start with $5 million?’ Some people laughed at us. ‘Who’s this kid? Does he really think he can do this?’” Burgesson said in an interview. 

Burgesson intends that the venture fund make investments of up to $1 million. Tribe has developed a pipeline of viable entrepreneurs after holding events across the country, he told Public Policy Forum.    

It’s well known that access to capital is particularly challenging for BIPOC founders and the current investment climate is tough for all but the most established companies. Data from the Canadian Venture Capital and Private Equity Association shows East Coast startups raised just $23 million in the fourth quarter, one of the weakest performances in recent memory, while the annual total dropped for the third year in a row to $176 million.

All this makes the new fund especially valuable, especially if the enthusiasm for DEI initiatives declines, as seems likely.

“The pendulum has swung,” Burgesson said, referencing the new American government and the upcoming Canadian federal election.

“We have to be aware of what’s coming. But at the same time, I have so much faith in my team, my board, our vision, that I don’t see what we’re doing as a DEI initiative…it’s important to not think about DEI as a side project. DEI should be embedded in your organization as part of investing in excellence. All research shows that if you have [women], if you have racial diversity on your teams, you’re going to be more profitable in the business world.”