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ARTICLE · 18 MARCH 2008

Ontario Venture Capital Developments

McCarthy Tétrault
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In November 2007, the Ontario government announced it had entered into a letter of intent with Canadian institutional investors to establish an Ontario-focused venture capital ‘fund of funds.’ This is part of the government’s stated goal to "strengthen Ontario’s ability to support innovative, high-growth companies in the province to expand business opportunities and create jobs."

CanadaCorporate/Commercial Law
W. Ian Palm
W. Ian Palm
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In November 2007, the Ontario government announced it had entered into a letter of intent with Canadian institutional investors to establish an Ontario-focused venture capital 'fund of funds.' This is part of the government's stated goal to "strengthen Ontario's ability to support innovative, high-growth companies in the province to expand business opportunities and create jobs."

Ontario will commit $90 million to the fund and the other investors — OMERS Administration Corporation, Business Development Bank of Canada, RBC Capital Partners and Manulife Financial — will together commit $75 million, for a total of $165 million for the first closing of the fund.

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