Ontario Investing Up To $25 Million To Help Start-ups Grow
The government is partnering with private investors and business leaders to create Scale Up Ventures, a new venture capital fund designed to support Ontario’s most promising start-ups through a unique combination of investment and mentorship.
As part of the 2015 Budget, the government is contributing up to $25 million to establish the venture capital fund. A further $25 million in matching funds will be provided by private investors. Scale Up Ventures will invest the resulting $50 million in Ontario start-ups that have shown initial market success and that demonstrate strong growth potential, but require new investment and mentorship to expand their operations.
That mentorship will come from the new Scale Up Leadership Council, which will be led by Nadir Mohamed, former CEO of Rogers Communications. The council will be made up of approximately 30 senior business leaders and successful entrepreneurs.