Banks, insurers unveil $1 bln Canadian Business Growth Fund
A group of Canadian banks and insurance companies have launched the Canadian Business Growth Fund, intended to make long-term minority investments in small and medium-sized companies looking to grow or scale operations. The fund is expected to raise more than $500 million initially, with the possibility for future commitments of up to $1 billion. Initial participants include BMO, CIBC, RBC, Scotiabank, TD, Manulife, Sun Life, Great-West Life, National Bank, HSBC Canada, ATB Financial, Laurentian Bank and Canadian Western Bank. Operating as an independently managed entity, the fund will also offer portfolio companies mentorship and access to talent pools.
9 March 2017•3 mins read
