Venture capital funds supported under VCCI 2017, up to December 31, 2021

This page lists the Canadian venture capital funds that have received commitments under the Venture Capital Catalyst Initiative (VCCI) up to December 31, 2021. 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, 2021, approximately 79 percent of financial commitments by funds-of-funds were made to Canadian funds, and 21 percent to non-Canadian funds.

Gender breakdown of venture capital funds supported by the Venture Capital Catalyst Initiative

Of the 40 funds supported under VCCI as of December 31, 2021, a total of ten funds have disclosed the proportion of women at senior positions at the senior management level of the fund. In total, women represented 23 percent of all employees at the senior management level across all ten funds combined, or 11 out of 47 total employees.