Minister Ng announces federal venture capital investments focused on gender and diversity
“Our government is helping small and medium-sized businesses start up, scale up and access new markets. We’re doing this by investing in venture capital, which helps transform good ideas into game-changing innovations and create good middle-class jobs for Canadians. Canada’s venture capital industry is critical to our economy and is steadily growing. Today’s investments will ensure that that growth is inclusive by improving gender balance and access to VC financing in under-served regions and sectors across Canada.”
– The Honourable Mary Ng, Minister of Small Business and Export Promotion
“This second round of investments is an important and necessary complement. The seven selected funds represent a broad spectrum of technology sectors, investment models and geographies. They also include a substantial focus on accelerating gender parity in the industry. We look forward to working with fund managers to help them succeed and bring more prosperity to Canada over the long term.”
– Michael Denham, President and CEO, BDC
By investing alongside the private sector, VCCI is expected to inject around $1.5 billion into Canada’s innovation capital market.
The recipients announced today were chosen as a result of a rigorous selection process informed by a private sector selection committee of highly qualified industry experts, as well as experts at BDC and Innovation, Science and Economic Development Canada.
In 2017, Canada’s venture capital industry invested $3.5 billion over 592 deals, marking the eighth straight year of continued growth and the most capital invested in a year since 2001.
Canada is now ranked third for venture capital investment according to the OECD.
- Venture Capital Catalyst Initiative
- Innovation Canada
- Innovation and Skills Plan
- Canadian Trade Commissioner Service
- Accelerated Growth Service
- Industrial Research Assistance Program (IRAP)
- Innovative Solutions Canada
- Women Entrepreneurship Strategy
- Canada-European Union Comprehensive Economic and Trade Agreement (CETA)
- Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)
Director of Communications
Office of the Minister of Small Business and Export Promotion
Innovation, Science and Economic Development Canada
Report a problem or mistake on this page
- Date modified: