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Posts Tagged ‘Ontario Venture Capital Fund’

jeremy grushcowBy Jeremy Grushcow

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.

Jeremy Grushcow  is a Foreign Legal Consultant practising corporate law at Ogilvy Renault LLP. He has a Ph.D. in Molecular Genetics and Cell Biology. His practice focuses on life science and technology companies. Jeremy blogs on biotechnology, health and business in Canada, the United States and worldwide at The Cross-Border Biotech Blog at http://www.crossborderbiotech.ca

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