The Venture Capital Catalyst Initiative is not currently accepting applications.
Feedback to inform the design of the Life Sciences stream is being sought until 5 p.m. Pacific Daylight Time on August 31, 2026.
Through the Venture Capital Catalyst Initiative (VCCI), the Government of Canada co-invests with private sector investors in funds-of-funds and venture capital (VC) funds to support the growth of a vibrant and sustainable Canadian VC industry, and to foster access to VC for innovative Canadian companies.
VCCI investments are managed by the Business Development Bank of Canada (BDC) on behalf of the Government of Canada.
Current global trade uncertainty is impacting investors, companies, and the flow of VC investments. The Government of Canada is committed to building a venture capital ecosystem that ensures homegrown innovators have the capital they need to grow and contribute to a more resilient Canada.
Budget 2025 announced that the government would be providing $1 billion on a cash basis, starting in 2026-27, for the new Venture and Growth Capital Catalyst Initiative (Growth VCCI). Through this program, the government will invest alongside the private sector through three streams:
- Funds-of-funds stream, focused on leveraging more private venture capital by incentivizing pension funds and other institutional investors;
- Life sciences stream, focused on VC fund managers that target support for Canadian life sciences companies to innovate and grow; and
- Emerging manager stream, focused on supporting emerging fund managers, including those focused on strategic sectors and those located outside traditional VC hubs.
These investments in Canadian VC will drive innovation and help build the next generation of Canadian anchor firms and fund managers, supporting economic growth and strengthening Canada’s strategic and sovereign capabilities.
Engagement on Life Sciences Stream Design
The Department of Innovation, Science and Economic Development Canada (ISED), in close collaboration with the BDC, is seeking stakeholder views to inform the design of the Growth VCCI Life Sciences Stream.
To guide submissions, the Venture and Growth Capital Catalyst Initiative- Discussion guide: Life Sciences stream outlines proposed design considerations and questions.
Written feedback on the design of the Life Sciences stream can be sent to the Government of Canada’s VCCI secretariat at capital@ised-isde.gc.ca until no later than 5 p.m. PDT on August 31, 2026.
Submissions may be submitted in either official language. Unless otherwise requested, submissions will be shared with BDC, to support program design.
Engagement on the Funds-of-funds stream was held in March/April 2026. Engagement on the Emerging Manager Stream will follow at a later date.
About the program
Learn about the VCCI, as well as previous programs (VCCI 2021, VCCI 2017 and the Venture Capital Action Plan [VCAP]).
Program results and impacts
Access annual reporting on program performance and impacts.
Recipient fund managers
Learn about the fund managers who have received investments under VCCI and VCAP.
Latest news
- Venture and Growth Capital Catalyst Initiative- Discussion guide: Funds-of-Funds Stream
- Minister Valdez announces new investments to spur innovation and help diverse entrepreneurs scale their business
- Minister Valdez announces new investments to help diverse entrepreneurs grow their businesses
Contact
To learn more about the VCCI program, please contact capital@ised-isde.gc.ca.
Additional Business Supports
Please note that VCCI does not make direct investments into companies. For additional business support, please see the following resources: