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ARTICLE | Financial News

Canada earmarks C$400M for venture capital

January 18, 2013 1:17 AM UTC

Prime Minister Stephen Harper said the Canadian government will provide C$400 million ($406.6 million) over the next seven to 10 years to increase private sector investments in early stage risk capital and to support the creation of private sector VC funds in Canada. The government's Venture Capital Action Plan will allocate C$250 million ($254.1 million) to establish private sector-led national funds of funds with institutional and corporate strategic investors; up to C$100 million ($101.6 million) to recapitalize existing funds of funds; and up to C$50 million ($50.8 million) in three to five existing VC funds. ...