The $350 million in funding for BDC’s venture capital activities will allow it to make additional direct investments of $260 million over three years in Canadian businesses already in the BDC portfolio, as well as investments in new seed technology companies and later-stage technology companies. It will also allow BDC to commit $90 million over three years to private, independent Canadian venture capital funds. This funding is in addition to the $75 million in venture capital funds allocated in the Government of Canada’s Budget 2008, which is being used to support the creation of a privately run venture capital fund.

iNovia Capital welcomes this important initiative from the Federal Government in support of Canadian entrepreneurship, the technology industry and the venture capital industry.