Ontario Government Commits to New Venture Capital Fund

The Government of Ontario‘s Throne Speech of February 19, 2013 included a commitment of C$50 million to “a new $300 million venture capital fund in partnership with its federal counterparts and the private sector.” The announcement follows the federal government’s decision in January to establish the C$400 million Venture Capital Action Plan, which includes provisions aimed at collaborating with provincial governments and recapitalizing existing funds-of-funds. In 2008, the Ontario government partnered with corporate and institutional investors in the launch of a C$205 million fund-of-funds, the Ontario Venture Capital Fund.

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