The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

$50 million to BDC for Ontario Tech Investments, Will “Collaborate” With Ontario Venture Capital Fund

The Federal Economic Development Agency for Southern Ontario (FedDev Ontario) is providing $50 million to BDC: $35 million for direct investments in “early-stage firms in Southern Ontario” and $15 million for LP investments in VC funds “focused on Ontario-based opportunities.”

Rather than relying [entirely?] on internal BDC resources, “as part of its decision-making process, the BDC will collaborate with the Ontario Venture Capital Fund.” 

Interesting, the $35 million of new BDC direct investment money will be almost double the OVCF direct investment money, since the OVCF is down to under $19 million for direct investments.

H/T to TechFinance.ca via @startupnorth, @markmcqueen.

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