Canada’s PM Stephen Harper has launched a $400m venture capital initiative to improve access to venture capital financing by high-growth companies.
The Venture Capital Action Plan aims to help increase private sector investments in early-stage risk capital, as well as support the creation of large-scale venture capital funds led by the private sector over the next seven to ten years.
The plan will make available:
– $250m to establish new, large private sector-led national funds of funds in partnership with institutional and corporate strategic investors, as well as interested provinces;
– Up to $100m to recapitalize existing large private sector-led funds of funds, in partnership with willing provinces; and,
– An aggregate investment of up to $50m in three to five existing venture capital funds in Canada.
The Government is currently asking potential investors to signal their interest in co-investing in new or existing funds of funds with interest by February 8, 2013 to be send to the following e-mail address: [email protected]