Spencer Riche
Co-Founder & Managing Partner
Spencer Riche is the co-founder and Managing Partner of R2 Capital, where he leads acquisitions, asset management, and investment strategy. As an executive-level operator, he oversees the full investment cycle — from sourcing and capital structuring through construction and property stabilization.
About
Spencer started his career in the skilled trades, working from 2013 onward as a pipe-fitter and sprinkler fitter on infrastructure projects across Western Canada. His early experience includes large-scale developments such as the $130M Glass House 195-unit residential tower, Winnipeg’s $180M RBC Convention Centre expansion, and Manitoba Hydro’s $4.9B Bipole III transmission project. He later worked with SA Energy on Enbridge’s $4.3B Line 3 Replacement.
Parallel to his construction career, Spencer began acquiring and renovating income-producing real estate in central Winnipeg. By directly overseeing redevelopment, financing, and day-to-day operations, he established a repeatable track record of value creation through disciplined cost control, capital recycling, and hands-on execution. After several successful investments, this track record enabled him to raise capital from outside investors and pursue larger, more complex projects. By 2017, his rental portfolio and property management business allowed him to exit the trades entirely and focus exclusively on real estate investing and operations.
Since co-founding R2 Capital in 2018, Spencer has helped grow the firm to over $135M in assets under management, leading the acquisition and repositioning of apartment buildings, offices, enclosed malls, and retail centres. He focuses on underperforming and distressed properties, stabilizing operations through multi-million-dollar construction projects, leasing execution, operational improvements, municipal coordination, cross-border transaction management, and debt and equity structuring.