Immigrant Investor Venture Capital Pilot Program – Investment terms and management

The application period for the Immigrant Investor Venture Capital (IIVC) Pilot Program is closed. The Department is not accepting applications at this time.

Each immigrant investor will provide CDN $2 million (fully at risk) for the Immigrant Investor Venture Capital Fund. This fund will invest in innovative Canadian start-ups with high growth potential, for the benefit of Canada. The fund will be managed by BDC Capital, the investment arm of the Business Development Bank of Canada, and by participating fund managers that were previously chosen to manage Government of Canada investments under the Venture Capital Action Plan.

As with any venture capital investment, immigrant investors could receive proceeds over time or at the end of the investment term. Proceeds will depend on the fund's performance and will be based on its gains or losses, including expenses and fees incurred to manage it.

More information about the management of the fund, terms and conditions, will be provided to immigrant investors in the agreement to be entered into with IRCC. This agreement will have to be signed before they make their CDN $2 million at-risk (non-guaranteed) investment.

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