Newfoundland commits $10 mln to Build Ventures, plans new VC fund
The government of Newfoundland and Labrador has committed $10 million to Atlantic Canada-based venture capital firm Build Ventures. The firm, which was launched last year with the backing of BDC Venture Capital, the governments of other Atlantic provinces and others, is focused on making investments in regional technology startups. The latest commitment brings Build Ventures' total managed capital to around $60 million. The Newfoundland and Labrador government said it also has plans to establish a new provincial venture capital fund to complement the activity of Build Ventures. This will be done in partnership with Growthworks Atlantic Ltd, the Newfoundland and Labrador Angel Network and other investors.
28 March 2014•2 mins read
