Harper announces plan to strengthen venture capital investment


MONTREAL – Prime Minister Stephen Harper has announced a plan to strengthen venture capital investment in Canada.

Under the plan, the government will aim to deploy $400 million to help increase private sector investments in the next seven to 10 years.

The Venture Capital Action Plan will make available $250 million to establish new funds led by the private sector.

As well, up to $100 million will be made available to recapitalize existing large private-sector funds.

There will also be a $50-million investment in three to five existing high performing Canadian venture capital funds.

Harper made the announcement in Montreal today.

The prime minister says the key to Canada’s global competitiveness depends on Canada’s venture capital industry having the resources to be sustainable.

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Harper announces plan to strengthen venture capital investment

  1. Nothin’ like making public money available to pay for private losses.

  2. Excellent news!!!! – one of the issues the last few years impeding growth is the liquidity trap the yanks have fallen into – we Canadians are truly sitting in the catbird seat and this news is icing on the cake! Growth stats the next few eyars providing the yanks can sort their house out have the potential to well exceed the overly pessimistic numbers Jimmy last gave out. No doubt this cause severe migraines for the frustrated left wing nuts !

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