In a powerful conversation with Arti Freeman, CEO of the Definity Foundation, we explored how the organization is leveraging all forms of capital—not just grants—to create what they call a justice model of philanthropy. For Black entrepreneurs and community leaders, their approach offers valuable lessons on impact, equity, and sustainable growth.
A Justice Model for Philanthropy
Founded in 2018 with $100 million from the demutualization of Economical Insurance (now Definity Insurance), the Definity Foundation has made equity its central purpose. Instead of a traditional charity model, DF embraces a justice model of philanthropy—acknowledging historical wrongs while investing in Black, Indigenous, racialized, and equity-seeking communities.
Particular attention is given to women and youth of colour, who are often the furthest behind in access to resources and opportunities.
Key Insights for Business Owners
1. Think Holistically About Capital
DF reminds us that true equity requires more than just financial resources. They leverage:
Financial Capital: including impact investing.
Human Capital: the skills and expertise of their team.
Social Capital: networks, influence, and partnerships.
Physical Assets: spaces and infrastructure that can be repurposed for equity work.
Lesson: Entrepreneurs should also map their holistic assets. Beyond money, how can your networks, knowledge, or spaces fuel equity and innovation?
2. Align Investments with Purpose
One of DF’s early moves was investing in Raven Indigenous Capital Partners. This impact investing strategy ensures resources create equity, not just returns.
Lesson: Business owners can also align reserves, supply chains, or partnerships with impact-driven values. Every dollar should advance your mission.
3. Trust Community Ingenuity
DF’s relational model trusts that communities already have the brilliance to solve their own challenges. Their role is to provide flexible, long-term funding and reduce traditional power imbalances.
Lesson: Instead of micromanaging, provide flexible support to your teams and partners. Innovation thrives when those closest to the challenge lead.
4. Make Learning Your Strategy
DF is committed to testing, adapting, and evolving quickly based on feedback.
Lesson: Entrepreneurs should adopt the same mindset—launch, learn, and adjust. Courageous action and humility to learn are the real growth engines.
5. Choose Collaboration Over Competition
“The days of the Lone Wolf are over,” Freeman notes. DF works alongside other foundations, sharing knowledge and due diligence to accelerate change.
Lesson: Entrepreneurs can achieve more by collaborating—sharing insights, resources, and strategies—to strengthen the entire ecosystem.
Building the Future Together
The Definity Foundation is proving that impact investing in Canada can go beyond grants and create systemic change. Their work challenges us to rethink how we use our assets, relationships, and influence to advance justice.
For business owners in the ACBN network, the takeaway is clear: equity and impact are built collectively, not in isolation.
🎥 Watch the full interview with Arti Freeman here: YouTube Interview
Learn about our ACBN Membership so we can work with you to build your business: Join ACBN
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