Ottawa opens bids for its $1.75-billion venture capital program

Main tranche, funds-of-funds

700 $ million in public money

Industry Minister Mélanie Joly said Ottawa is taking bids for $700 million in government money for funds-of-funds, which invest in venture capital firms.

Ottawa expects its money to draw another $2.1 billion from private investors. Selected firms must raise $3 from private investors for every government dollar.

The $750-million early-growth pool

75 $ million, pre-seed and seed 675 $ million, later stage

A separate $750-million pool for early growth-stage gaps will put $75 million into pre-seed and seed startups and $675 million into later-stage financing.

Applications close for fund managers

Funds-of-funds managers, including private firms and pension funds, can apply until Jan 21, 2027.