CVCA applauds Ottawa's new $400 mln venture capital scheme
The Canadian Venture Capital and Private Equity Association (CVCA) has welcomed the federal government's decision to implement a new scheme to stimulate risk financing of Canadian technology entrepreneurs and startups. Ottawa's Budget 2017 unveiled the Venture Capital Catalyst Initiative (VCCI), a $400 million program to be administered by BDC Capital. Like the Venture Capital Action Plan (VCAP), a comparable program launched in 2014, VCCI will leverage private-sector capital to bring up to $1.5 billion into the market. It will give a particular focus to late-stage opportunities. CVCA CEO Mike Woollatt said VCCI will help "catalyse Canadian venture capital."
23 March 2017•3 mins read
