Posted January 14, 2013
In the 2012 Budget the federal government announced its intention to deploy $400 million to strengthen the venture capital industry in Canada. It then conducted consultations on how best to use this money. On January 14 the Prime Minister announced the action plan resulting from that consultation. It will deploy $250 million for new, large, private sector led funds of funds, up to $100 million to recaptialize existing large private sector led funds of funds with provincial government participation, and up to $50 million in 3 to 5 already existing venture capital funds. Read the Prime Minister’s announcement here. ITAC’s submission in the consultation process can be found here.