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Venture Capital Funds supported by the Venture Capital Action Plan, up to March 31, 2020

This page lists the venture capital funds that have received commitments from the funds-of-funds under the Venture Capital Action Plan (VCAP) up to March 31, 2020.

VCAP Fund-of-fund Canadian commitment requirements

The VCAP funds-of-funds were designed to invest predominantly in Canadian venture capital funds; however, recognizing technology industries are international, and some degree of cross-border investment is important to allow for international relationships that can help Canadian companies to be connected globally. In this context, the funds-of-funds are also allowed to invest a minority of their capital outside of Canada. Rules governing international investments are as follows:

As of March 31, 2020, approximately 85 percent of financial commitments by funds-of-funds were made to Canadian fundsFootnote 1, and 15 percent to non-Canadian funds. While the list below shows there have been a number of commitments made in non-Canadian funds, the commitments that have been made to the Canadian funds under VCAP are much larger than those made in funds headquartered outside Canada, on average.

Venture Capital Funds supported by the Venture Capital Action Plan
Fund name Vintage year Sector focus Location Stage focus
32 Degrees Diversified Energy Fund III 2015 Energy and clean technologies Alberta Growth stage
Battery Ventures XI 2016 Information and communications technologies Massachusetts Early stage
Battery Ventures XI Side Fund 2016 Information and communications technologies Massachusetts Late stage
Battery Ventures XII 2018 Information and communications technologies Massachusetts Early stage
Battery Ventures XII Side Fund 2018 Information and communications technologies Massachusetts Early stage
Canaan XI LP 2017 Information and communications technologies California Early stage
Clarus Lifesciences III 2014 Life sciences New York Early stage
First Ascent Ventures I 2015 Information and communications technologies Ontario Early stage
Genesys Ventures III 2016 Life sciences Ontario Early stage
Georgian Partners Growth Fund II 2013 Information and communications technologies Ontario Growth stage
Georgian Partners Growth Fund III 2016 Information and communications technologies Ontario Growth stage
Georgian Partners Growth Fund IV 2018 Information and communications technologies Ontario Growth stage
Golden Venture Partners Fund II 2014 Information and communications technologies Ontario Seed
Golden Venture Partners Fund III 2018 Information and communications technologies Ontario Seed
Idinvest Digital Fund III 2018 Information and communications technologies France Early stage
Index Ventures VIII 2016 Information and communications technologies Europe Early stage
Information Venture Partners II 2016 Information and communications technologies Ontario Early stage
iNovia Growth Fund 2018 Information and communications technologies Quebec Growth stage
iNovia Investment Fund 2015 2016 Information and communications technologies Quebec Early stage
Insight Venture Partners IX 2015 Information and communications technologies New York Growth stage
Lightspeed Venture Partners II 2016 Information and communications technologies California Growth stage
Lightspeed Venture Partners XI 2016 Information and communications technologies California Early stage
Lumira Capital III 2016 Life sciences Ontario Late stage
McRock iNFund 2015 Energy and clean technologies Ontario Early stage
New Acres Capital Ag & Food (formerly Avrio Ventures III) 2014 Energy and clean technologies Alberta Late stage
Novacap TMT IV 2014 Information and communications technologies Quebec Growth stage
Novacap TMT V 2017 Information and communications technologies Quebec Growth stage
Persistence Capital Partners II 2014 Life sciences Quebec Growth stage
Real Investment Fund 17 2017 Information and communications technologies Quebec Early stage
Relay Ventures III 2015 Information and communications technologies Ontario Early stage
Sierra Ventures XI 2014 Information and communications technologies California Early stage
Silversmith Capital Partners 2015 Information and communications technologies Massachusetts Growth stage
Sofinnova Capital VIII 2015 Life sciences France Early stage
Trident Capital Cybersecurity I 2016 Information and communications technologies California Early stage
Vanedge Capital II 2017 Information and communications technologies British Columbia Early stage
Versant Ventures V 2014 Life sciences British ColumbiaFootnote 2 Early stage
Versant Ventures VI 2016 Life sciences British ColumbiaFootnote 2 Early stage
Versant Voyageurs I 2018 Life sciences British ColumbiaFootnote 2 Early stage
Version One Ventures I 2012 Information and communications technologies British Columbia Seed
Version One Ventures II 2014 Information and communications technologies British Columbia Seed
Walden Venture Capital VIII 2014 Information and communications technologies California Early stage
White Star Capital 2014 Information and communications technologies New York Early stage
Whitecap Venture Partners III 2015 Information and communications technologies Ontario Early stage
Whitecap Venture Partners IV 2018 Information and communications technologies Ontario Early stage
XPV Water Fund II 2014 Energy and clean technologies Ontario Late stage
Yaletown Innovation Growth Fund 2017 Energy and clean technologies British Columbia Early stage

Note: Seven venture capital funds based in the United States and Canada that received commitments under VCAP are excluded from this list for confidentiality reasons.

Footnotes

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