A foundation that was created by the government of Canada in order to provide funding for technologies that promote sustainable development has been provided nearly $2 billion in assets by the Canadian government in order to further this mission. The foundation is registered as a non-profit, non-share capital corporation under the Canada Business Corporations Act. The government foundation has two funds, which have allocated over $1 billion together.
The firm is currently looking for new firms in the life sciences space for potential allocations; and although they do not have a set number of firms they wish to allocate to over the next six to nine months, they typically will provide capital to around 20 firms annually. With that being said, they will allocate to a number of firms over the next 6-9 months if some compelling opportunities are uncovered.
The foundation typically invests around $2-3 million per firm, but has allocated as little as $500,000 and as much as $40 million in the past. They are currently most interested in the biotech space, specifically in firms focused on environmental biotechnology. In particular, the firm is seeking firms that are developing anti-pollution or waste remediation technologies. The firm is only looking for firms that are pre-revenue, and thus provide seed funding to these firms.
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