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The Ontario Venture Capital Fund (OVCF) operates as a fund-of-funds, strategically investing in Ontario-based venture capital and growth equity funds. This delivers crucial backing for innovative, high-growth companies province-wide, cultivating a robust local ecosystem by ensuring consistent capital for fund managers. The fund's approach effectively amplifies investment flow into emerging enterprises.
Formed by the Government of Ontario and institutional investors, the OVCF strengthens the province’s venture capital sector. Venture Ontario, the government’s agency, was foundational in its establishment. This partnership reflects the insight that a self-sustaining venture industry is critical for driving innovation and long-term economic prosperity within the region.
The OVCF primarily supports Ontario's venture capital and growth equity fund managers, enabling their investments into promising technology firms. Its vision is to enhance returns and foster a globally competitive, self-sustaining venture capital industry. Fortifying the ecosystem’s financial foundation drives enterprise expansion, boosting the provincial economy and solidifying Ontario’s technology standing.
Ontario Venture Capital Fund has 2 tracked investments across 1 company. The latest tracked deal is $25.0M Series C in Achievers in September 2011.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Sep 1, 2011 | Achievers | $25.0M Series C | Sequoia Capital | Bowery Capital, NextView Ventures, Relay Ventures, Grandbanks Capital, JLA Ventures |
| May 1, 2009 | Achievers | $6.0M Series B | Ontario Venture Capital Fund, Grandbanks Capital | Relay Ventures, JLA Ventures, Laurence Capital |