BC Government launches $90 Million Fund
Danny Robinson (Strutta and Bootup Labs) attended what sounded like a very exclusive BC Government press conference this morning and was kind enough to give me the heads up on it. Colin Hansen, Minister of Economic Development, announced the launch of a $90-million BC Renaissance Capital Fund (BCRCF) and has secured six top-tier institutional venture capital fund managers to help attract market expertise and venture capital investment to BC.
“The BC Renaissance Capital Fund will help British Columbia develop world-class anchor companies and continue to build on the culture of innovation we have in this province,” said Hansen. “Attracting more private venture capital to B.C. will help our most promising and innovative companies to grow and create jobs.”
The fund managers selected for the BCRCF are Arch Venture Partners, VantagePoint Venture Partners, Kearny Ventures, Walden Capital, Ventures West and Celtic House Partners. All six have a track record of building technology companies in BC and internationally. The BCRCF has committed $90 million of capital, which can be structured over a period of up to five years. More info on the BC Renaissance Capital Fund here.
