The $205 million Ontario Venture Capital Fund (OVCF) is a joint initiative between the Government of Ontario and leading institutional investors to invest primarily in Ontario-based and Ontario-focused venture capital and growth equity funds that support innovative, high growth companies. Ontario has committed $90 million to the Fund, with the balance coming from partner institutions. OVCF is structured as a fund of funds with the primary objective of generating attractive returns for its investors. The OVCF is managed by Northleaf Capital.
In addition to the Government of Ontario, the participating institutional investors in the OVCF include the following or their affiliates: TD Bank, OMERS Capital Partners, RBC Capital Partners, Business Development Corporation and Manulife Financial.
The OVCF has been designed to foster innovation and investment in Ontario by enhancing long-term investment returns and contributing to the creation of a globally competitive and self-sustaining venture capital industry.
The OVCF is focused on building a portfolio comprised principally of Ontario-based and Ontario-focused venture capital and growth-oriented fund investments and direct co-investments.
Through its disciplined focus on generating top-tier returns and fostering the development of best-in-class fund managers, the OVCF serves as a new and important catalyst in ongoing efforts to create a profitable, globally competitive and self-sustaining venture capital industry in Ontario.
While the OVCF is intended to produce attractive returns, it is expected to have a considerable impact on creating a virtuous cycle that will drive incremental investment in world-class Ontario-based technology and innovation in the long-term.
For further information on the OVCF, please visit www.ovcf.com.