Canadian Finance Minister Names VCAP Advisory Panel

The federal Minister of Finance Jim Flaherty has established a panel of experts to advise on key elements of the $400 million Venture Capital Action Plan (VCAP), which was announced in January. Among the duties of the panel, which is chaired by Canadian PE pro Samuel L. Duboc, will be to advise on the selection of private sector managers for up to four venture capital funds-of-funds. The other panelists are Jim W. DavidsonGilles DurufléRobin Louis and Annette Verschuren. VCAP panelist bios are here.

PRESS RELEASE

Ottawa, May 23, 2013

MINISTER OF FINANCE ESTABLISHES A VENTURE CAPITAL EXPERT PANEL TO GROW CANADA’S VENTURE CAPITAL INDUSTRY

The Honourable Jim Flaherty, Minister of Finance, announced today the establishment of a Venture Capital Expert Panel in order to advance key elements of the Venture Capital Action Plan.

In January, Prime Minister Stephen Harper announced the Venture Capital Action Plan, a comprehensive strategy for deploying $400 million to help increase private sector investments to create jobs and economic growth.

“In a competitive global environment, our Government realizes that we must play an important role in promoting a more innovative economy, by supporting private sector investment needed for high-potential small and medium-sized businesses to grow,” said Minister Flaherty. “The outstanding Canadians selected for the Venture Capital Expert Panel will play an important role in helping to drive economic growth in Canada.”

The Panel members have extensive experience in the venture capital asset class, business and finance.

The Panel will provide advice and recommendations on two key elements of the Venture Capital Action Plan:

Selecting private sector managers for up to four funds of funds; and
Selecting up to five high-performing venture capital funds that will receive an aggregate direct investment of $50 million.
The Panel may also provide advice on other elements of the Venture Capital Action Plan.

The Panel members are:

Samuel L. Duboc (chair)
Jim W. Davidson
Gilles Duruflé
Robin Louis
Annette Verschuren

Photo courtesy of Shutterstock.