Ontario launches new venture capital fund

The Ontario government is contributing $50 million to start a new venture capital fund which it hopes will eventually reach $300 million with participation from private investors. The federal government is also reportedly matching the provincial contribution as part of its strategy for $400 million committed to VC in the 2012 Budget. The as-yet-unnamed fund will be private sector- managed with a fund manager selected through a competitive process The fund builds upon an earlier VC fund launched by the Ontario government in 2008. The Ontario Venture Capital Fund was seeded with $115 million in public funds and leveraged $750 million from the private sector....