Governments of Canada and Ontario Launch New “Fund of Funds”

Canadian_Flag3The governments of Canada and Ontario have jointly created the Northleaf Venture Catalyst Fund, a private sector-led fund of funds and a key element of the Government of Canada’s Venture Capital Action Plan. With an overall target size of $300 million, the Northleaf Venture Catalyst Fund will invest primarily in Canada-focused early-stage and mid-stage venture capital funds, and directly in companies across Canada. Northleaf Capital Partners has been selected by lead investors to act as the general partner for the fund, following a fair and competitive selection process led by the Venture Capital Expert Panel appointed by Minister Flaherty. Investment decisions will be made by Northleaf Capital Partners on market-based principles in order to maximize returns.

The initial partners in the fund are:

  • BDC Capital Inc.
  • BMO Financial Group
  • Canada Pension Plan Investment Board
  • Canadian Imperial Bank of Commerce
  • National Bank of Canada
  • Ontario Capital Growth Corporation
  • OpenText Corporation
  • RBC
  • Scotiabank
  • TD Bank Group