Canada’s Prime Minister Stephen Harper announced a new federal initiative to improve access to venture capital investments for high-growth innovative companies. Totaling C$400 million, the Venture Capital Action Plan will include a C$250 million privately managed fund of funds, which will make commitments to venture capital funds in partnership with corporate and institutional investors, and interested provincial governments. Another C$150 million will be ear-marked for recapitalizing existing funds of funds and making direct commitments to leading funds. The plan’s combined capital is to be deployed over the next seven to 10 years.
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