This page lists the Canadian venture capital funds that have received commitments under the Venture Capital Catalyst Initiative (VCCI) up to December 31, 2020. This includes investments by funds-of-funds and fund managers selected under Streams 2 and 3 of VCCI.
VCCI fund-of-fund Canadian commitment requirements
The VCCI funds-of-funds were designed to invest predominantly in Canadian venture capital funds; however, recognizing technology industries are international, and some degree of cross-border investment is important to allow for international relationships that can help Canadian companies to be connected globally. In this context, the funds-of-funds are also allowed to invest a minority of their capital outside of Canada. Rules governing international investments are as follows:
- Each fund-of-funds must make at least 60 percent of its fund commitments to funds with their primary offices in Canada, and a majority of their professionals resident in Canada; and
- Overall, at least 35 percent of the capital managed by the funds-of-funds must be invested in Canadian-based companies.
As of December 31, 2020, approximately 74 percent of financial commitments by funds-of-funds were made to Canadian funds, and 26 percent to non-Canadian funds.
Gender breakdown of venture capital funds supported by the Venture Capital Catalyst Initiative
Of the 21 funds supported under VCCI as of December 31, 2020, a total of six funds have disclosed the proportion of women at senior positions at the senior management level of the fund. In total, women represented 25 percent of all employees at the senior management level across all six funds combined, or six out of 24 total employees.
|Fund name||Sector focus||Location||Stage focus|
|Amplitude Venture Fund I||Life sciences||Ontario||Early stage|
|ArcTern Ventures II||Energy and clean technologies||Ontario||Early stage|
|Brightspark Canadian Opportunities Fund||Information and communications technologies||Quebec||Early stage|
|Build Ventures Fund II||Information and communications technologies||Nova Scotia||Early stage|
|Cycle capital Fund IV||Energy and clean technologies||Quebec||Early stage|
|Garage capital Fund III||Information and communications technologies||Ontario||Seed|
|Garage Capital Opportunities Fund I||Information and communications technologies||Ontario||Early stage|
|Georgian Partners Growth Fund V||Information and communications technologies||Ontario||Growth|
|Golden Ventures Opportunities Fund I||Information and communications technologies||Ontario||Early stage|
|Golden Ventures (Project Precious)||Information and communications technologies||Ontario||Early stage|
|Highline BETA Fund 2019||Information and communications technologies||Ontario||Seed|
|Information Venture Partners III||Information and communications technologies||Ontario||Early stage|
|Mistral Venture Partners III||Information and communications technologies||Ontario||Early stage|
|McRock capital Fund II||Information and communications technologies||Ontario||Early stage|
|Renewal4 Investment Fund||Energy and clean technologies||British Columbia||Late stage|
|StandUp Ventures||Information and communications technologies||Ontario||Seed|
|TandemLaunch III||Information and communications technologies||Quebec||Seed|
|Versant Venture Capital VII||Life sciences||British Columbia||Seed|
|Version One Opportunities Fund I||Information and communications technologies||British Columbia||Late stage|
|Version One Ventures II (Project Charm)||Information and communications technologies||British Columbia||Early stage|
|Whitecap Ventures Partners IV||Information and communications technologies||Ontario||Early stage|