Government Continues to Support Venture Capital Investment
Yesterday, Finance Minister Joe Oliver announced the Government of Canada’s investment in HarbourVest Canada Growth Fund, a private sector-led fund of funds under the Government of Canada’s Venture Capital Action Plan.
HarbourVest Canada Growth Fund, the last of the four private sector-led funds of funds to be established under the Venture Capital Action Plan, had its initial closing with $197.2 million in commitments—$131.5 million from institutional and corporate investors, alongside $65.7 million from the Government of Canada. The Fund will place an emphasis on investment opportunities in information and communications technologies, and will invest primarily in early-stage and mid-stage venture capital funds and directly in companies across Canada.
