Ontario, Ottawa put in $50 million each for Venture Catalyst Fund for start-ups
WATERLOO, Ont. - Ontario is the first province to team up with the federal government on a program to create a new venture capital fund to attract investments.
Premier Kathleen Wynne visited a high-tech company in Waterloo to announce the two levels of government would each contribute up to $50 million to the Northleaf Venture Catalyst Fund.
Wynne says it will build on the success of the Ontario Venture Capital Fund, which has attracted $872 million in private investment and helped create or retain 1,500 jobs since it was launched in 2008.
She says the whole point of the catalyst fund is to leverage private capital, and notes about $217 million has been committed already.
Wynne says the two governments are "stepping up to the plate" to give entrepreneurs and startups the boost they need to reach their full potential.
She calls venture funds "a great tool" to help companies access the capital they need to grow, create new jobs and expand into global markets.
Read more Business News
- BC likes to stay activeKelowna
- First Ebola case in the USWorld
- Distracted driving talesVernon / N. Okanagan
- Canadian dies in avalancheWorld
|QHR Technologies Inc||1.26||+0.03|
|Anavex Life Sciences||0.184||-0.001|
|Copper Mountain Mining||2.42||-0.10|
|Sunrise Resources Ltd||0.065||+0.045|
|Mission Ready Services||0.32||-0.02|
Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...
Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...
Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...