The province is moving into the venture capital business. $10-million will be going towards two funds over the next five years in an effort, the Minister says, to attract business to Newfoundland and Labrador. Venture capitals are high risk investments with on average just a 20 per cent success rate. The funds are being diverted from the former business attraction fund. Terry French says government needed a new way to get the money out the door. Under the old fund, only about half of the annual investment was ever spent.
Image: http://www.vocm.com
To read the original article: VOCM.COM|Province Moving into Venture Capital Business | Article
