Montreal, Quebec
Objective
The Government of Canada will provide additional resources in the near term to a few high-performing private sector-managed venture capital funds. These resources will allow fund managers to increase the size of their funds, optimize the execution of the fund's strategy, and accelerate their investments in innovative firms.
Description
- The Government of Canada will provide up to $50 million in aggregate to three to five existing high-performing venture capital funds based inCanada. General Partners will not be required to secure additional leverage beyond the private resources they have already raised.
- High-performing venture capital funds must be managed by a private sector General Partner with a substantial presence in Canada and be active in areas where Canada has existing capacity.
Process
- In the coming weeks, the Government of Canada will be seeking private sector expertise to advise on the selection process of the three to five high-performing venture capital funds.
- The successful funds are expected to be selected in the coming months.
Next Steps
Further details about the selection process for the three to five high-performing funds will be released in the coming weeks.
