Venture Capital Catalyst Initiative (VCCI) - Government of Canada
Co-investing to support the growth of Canada's venture capital industry.
Overview
The Venture Capital Catalyst Initiative (VCCI) is a Government of Canada program that co-invests with private sector investors in funds-of-funds and venture capital (VC) funds to support growth of a vibrant Canadian VC industry and foster VC access for innovative Canadian companies. VCCI investments are managed by the Business Development Bank of Canada (BDC) on behalf of the Government of Canada. The original VCCI (2017) successfully capitalized 4 private-sector funds-of-funds and 8 VC funds, raising $1.8 billion total ($1.4B from private investors). The Renewed VCCI (2021) targets further capital increases for Canadian innovators, especially life sciences and underrepresented groups, investing up to $450M through three streams: funds-of-funds, life sciences, and inclusive growth.
Investment focus
The VCCI aims to enhance the Canadian venture capital landscape by providing co-investment capital to funds that support innovative Canadian companies, particularly in life sciences and underrepresented groups. This initiative addresses the need for increased capital in the Canadian startup ecosystem.
Program details
Designed for Fund Managers, Limited Partners, General Partners. The program is in person. Participation is generally unknown.
Who it is for
Fund managers and private venture capital firms seeking co-investment partnership; funds focused on Canadian innovation; life sciences and inclusive growth focused funds.
Check if you are eligible
Check your eligibility for Venture Capital Catalyst Initiative (VCCI) - Government of CanadaAdmissions and application
Eligibility is focused on fund managers and private venture capital firms seeking co-investment partnerships, particularly those that focus on Canadian innovation, life sciences, and inclusive growth.
Benefits
Participants benefit from government co-investment capital, accelerated fund raising, validation of fund strategy, support for the Canadian startup ecosystem, and targeted support for underrepresented founders.
Timeline
The program is ongoing and does not have a fixed duration.
What came of it
The original VCCI raised $1.8B across 12 funds, while the Renewed VCCI has allocated up to $450M to further support Canadian startups.
How to go about it
- Read what it asks for
Who can apply, how people get in and whether it is open right now.
- Have something to show
Programs pick people whose work they can already point to. Put yours where it can be found.
- Apply the way the program asks
The program has not published how to apply. Terms and dates change. Check the official page before you act.
What it pays
The program operates as a government co-investment initiative, thus there is no individual participant cost.
Questions about this program
Does VCCI invest directly in companies?
No. ISED states that VCCI does not make direct investments into companies.
About Government of Canada
Government of Canada
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From public sources
What the sources say about Venture Capital Catalyst Initiative (VCCI) - Government of Canada
ISED says VCCI recipient fund managers raise additional private-sector capital.
Source: About the Venture Capital Catalyst InitiativeISED explicitly says VCCI does not make direct investments into companies.
Source: About the Venture Capital Catalyst InitiativeISED says BDC manages VCCI investments on behalf of the Government of Canada.
Source: About the Venture Capital Catalyst InitiativeISED describes VCCI as Government of Canada co-investment alongside private investors.
Source: About the Venture Capital Catalyst InitiativeThe current official landing page is titled Venture and Growth Capital Catalyst Initiative.
Source: Venture and Growth Capital Catalyst Initiative
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