Invest Nova Scotia — Investment
NS, Canada
Early stage investment for Nova Scotia innovators
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Loans and Capital investments
grant_single|eligibleIndustries
- Information and cultural industries
- Finance and insurance
- Professional, scientific and technical services
grant_single|grantors
- Invest Nova Scotia
- Government of Nova Scotia
grant_single|status
grant_card_status|open
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Venture capital fund targeting emerging venture-grade technology companies with high growth potential and attractive risk-return prospects in Nova Scotia.
grant_single_labels|projects
This grant is specific to venture capital funds that are committed to investing in Nova Scotia-based high-growth start-ups. The geographical focus is on start-ups and companies with a significant presence in Nova Scotia.
- Nova Scotia, Canada.
grant_single|admissibleProjectsExample
$7,000,000
Establishment of a venture fund supporting AI start-ups
$7,500,000
Development of a venture capital fund to support Fintech start-ups
$7,500,000
Creation of a venture capital fund to support blockchain start-ups
$7,000,000
Creation of a venture capital fund supporting health tech start-ups
$6,900,000
Creation of a venture capital fund for agricultural technology start-ups
$8,000,000
Funding a venture capital initiative for green technology startups
grant_single_labels|admissibility
The eligibility criteria for this grant require venture capital funds to meet several key conditions.
- Applicants must be venture capital funds that are currently raising a venture capital fund.
- They must commit to deploying 100% of Invest Nova Scotia’s investment in Nova Scotia-based high-growth start-ups.
- The funds must be committed to maintaining a Nova Scotia presence to develop a pipeline of Nova Scotia-based start-ups and current investment opportunities.
grant_eligibility_criteria|who_can_apply
Eligible applicants are venture capital funds that are currently raising a venture capital fund, committed to deploying 100% of Invest Nova Scotia's investment in Nova Scotia-based high-growth start-ups, and committed to maintaining a presence in Nova Scotia to develop a pipeline of start-ups and investment opportunities.
grant_eligibility_criteria|eligible_expenses
This fund investment aims to bolster Nova Scotia's venture capital ecosystem through collaboration with venture capital funds. The eligible activities are centered around investing in and nurturing high-growth start-ups within Nova Scotia.
- Investing in high-growth start-ups based in Nova Scotia to help them scale and succeed.
- Fostering diverse and sustainable portfolios of venture capital funds in Nova Scotia.
- Attracting additional capital through partnerships with other venture capital entities.
- Focusing on start-ups from underserved regions or those led by underrepresented founders in Nova Scotia.
- Developing infrastructure and resources required for a vibrant local venture capital market.
grant_eligibility_criteria|zone
The eligible geographic zone for this grant is Nova Scotia, Canada, with a focus on supporting high-growth start-ups based in this region.
- Nova Scotia, Canada
grant_single_labels|criteria
The evaluation and selection of venture capital funds for investment by Invest Nova Scotia are based on the following criteria to strengthen the venture capital ecosystem in the province.
- Management: fund management or venture investing experience; operational experience; investment and sector networks; demonstrated track record; expertise and skillsets; diversity; team composition; succession plan.
- Investment Thesis: investment strategy; unique competitive advantage or differentiator; deal flow; governance structure including due diligence, selection and approval processes.
- Fund Structure: management fees; compensation structure; governance and reporting frameworks (e.g., investment committee and limited partner advisory committee); ESG and DEI strategies.
- Traction: market validation; committed and pipeline capital; investments made to date; fundraising strategy.
- Nova Scotia Impact: strength of Nova Scotia presence; focus on key strategic sector(s); focus on underserved founders or regions; ability to attract outside capital via limited partners and co-investors.
grant_single_labels|register
- Step 1: Initial Contact
- Reach out to Invest Nova Scotia via email at info@investnovascotia.ca or call 1.800.260.6682 or 902.424.8670 to express interest and gather more information about the application process.
- Step 2: Expression of Interest
- Submit an expression of interest outlining the venture capital fund’s goals, management team, and commitment to investing in Nova Scotia-based start-ups.
- Step 3: Application Review
- Upon submission, Invest Nova Scotia will review the expression of interest and determine if it meets their criteria for further consideration.
- Step 4: Interview Process
- If shortlisted, participate in an interview conducted by internal and external venture capital professionals.
- Step 5: Due Diligence
- Undergo a thorough due diligence process assessing various criteria such as management experience, investment thesis, and Nova Scotia impact.
- Step 6: Final Application Submission
- Submit any additional documentation requested during due diligence to complete the application process.
grant_single_labels|otherInfo
Invest Nova Scotia offers venture capital funds investing in high-growth start-ups access to investments with a focus on developing the venture capital ecosystem in Nova Scotia.
- Focus on strengthening Nova Scotia’s venture capital ecosystem
- Increase venture capital available to Nova Scotia’s high-growth start-ups
- Diversify access to venture capital
- Evaluation includes fund management experience, investment thesis, fund structure, and Nova Scotia impact
- Commitment to deploying 100% of Invest Nova Scotia’s investment in Nova Scotia-based high-growth start-ups
- Maximum investment size is up to 25% of total committed capital in a fund, up to $10 million
grant_single_labels|contact
info@investnovascotia.ca
1.800.260.6682
Apply to this program
Empowering Venture Capital in Nova Scotia
This grant supports venture capital funds that invest in high-growth, innovative start-ups based in Nova Scotia. The initiative aims to strengthen the province's venture capital ecosystem, ensuring diverse and sustainable funding opportunities are available to local entrepreneurs.
Detailed Insight into the Fund Investment Grant
The Fund Investment Grant offered by Invest Nova Scotia is a strategically designed initiative to bolster the province's economic and entrepreneurial landscape. The primary focus is on empowering venture capital funds, which play a critical role in supplying necessary capital to high-growth and innovative start-ups rooted in Nova Scotia. By partnering with these venture capital entities, Invest Nova Scotia ensures that the local startups not only have access to the capital they need to scale but also the strategic support to thrive within a competitive market.
The program's overarching goal is to fortify Nova Scotia’s venture capital ecosystem. By doing so, it intends to increase the availability of venture capital funds for Nova Scotian businesses, thus nurturing an environment where innovation can flourish. The initiative attracts and retains significant capital resources through a diversified portfolio of venture capital funds, ultimately enticing outside investments from a variety of limited partners and co-investors. Such financial reinforcement is crucial for the development of a resilient venture capital economy within the province.
The grant selection process is thorough and involves both internal and external venture capital professionals to ensure comprehensive evaluation. This involves assessing submissions of expressions of interest, conducting detailed interviews with shortlisted applicants, and executing rigorous due diligence. This phase includes evaluating the management capabilities, investment strategy, fund structure, and the overall impact of the proposed funds on Nova Scotia’s socio-economic fabric.
Key to this effort is ensuring that fund managers possess robust venture investing and operational expertise, supported by a demonstrated track record of success. The ideal investment theses should possess a unique competitive edge, showcasing strategic governance and robust deal flow capabilities. Moreover, funds should exhibit a compelling management fee and compensation structure, aligned with standard industry practices and transparent reporting mechanisms.
Special emphasis is placed on the presence and engagement of these funds within Nova Scotia. Funds are expected to significantly influence key strategic sectors and underserved regions, amplifying their impact through a sustained presence within the province. This geographical focus not only nurtures local talent and economic growth but also maximizes the potential of start-ups by leveraging local advantages.
This holistic approach to fund investments underscores a commitment to nurturing diversity in the access to capital while addressing regional disparities in economic development. Accessibility to these funds enables a wide array of start-ups to harness opportunities, driving innovation across various sectors within the Nova Scotian economic landscape. Invest Nova Scotia remains dedicated to creating a sustainable infrastructure that perpetuates continuous development, ensuring that businesses can harness both local and global opportunities.
With ongoing submissions, Invest Nova Scotia welcomes venture capital funds poised to bring transformative changes to the local economy through sustained investments in Nova Scotia’s dynamic start-up ecosystem. This initiative not only boosts individual venture funds but also strengthens the entire entrepreneurial network in Nova Scotia, fostering a vibrant environment for current and future innovators.
