How much funding can be received?

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 focused on supporting the development of a strong venture capital ecosystem in Nova Scotia by investing in venture capital funds dedicated to high-growth start-ups in the region.

Fund management with experience and skills in venture investing
Operational experience in investment and sector networks
Unique competitive advantage or differentiator in investment strategy
Adherence to governance structures and due diligence processes
Commitment to a Nova Scotia presence and support for local start-ups
Focus on attracting additional capital and co-investors to Nova Scotia
Targeting underserved founders or regions in Nova Scotia
Maintaining a strong presence in key strategic sectors in Nova Scotia

grant_single|admissibleProjectsExample

$7,000,000

Sydney

Establishment of a venture fund supporting AI start-ups

$7,500,000

New Glasgow

Development of a venture capital fund to support Fintech start-ups

$7,500,000

Halifax

Creation of a venture capital fund to support blockchain start-ups

$7,000,000

Truro

Creation of a venture capital fund supporting health tech start-ups

$6,900,000

Bridgewater

Creation of a venture capital fund for agricultural technology start-ups

$8,000,000

Dartmouth

Funding a venture capital initiative for green technology startups

grant_single_labels|admissibility

Eligible applicants include venture capital funds currently in the fundraising stages, dedicated to investing in Nova Scotia-based high-growth startups, and maintaining a presence in Nova Scotia to support local pipeline development.

Currently raising a venture capital fund
Committed to deploying 100% of Invest Nova Scotia’s investment in Nova Scotia-based high-growth start-ups
Committed to maintaining a Nova Scotia presence required to develop a pipeline of Nova Scotia-based start-ups and current investment opportunities

grant_eligibility_criteria|who_can_apply

Eligible applicants for the Invest Nova Scotia Fund are venture capital funds that meet specific criteria aimed at supporting high-growth start-ups in Nova Scotia.

Currently raising a venture capital fund
Committed to deploying 100% of Invest Nova Scotia’s investment in Nova Scotia-based high-growth start-ups
Committed to maintaining a Nova Scotia presence required to develop a pipeline of Nova Scotia-based start-ups and current investment opportunities

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

Yes, there are evaluation and selection criteria for this grant, which include various aspects related to management, investment thesis, fund structure, traction, and Nova Scotia impact.

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: Contact Invest Nova Scotia to learn more about the application process.
Step 2: Submit an expression of interest.
Step 3: Participate in an interview if shortlisted.
Step 4: Undergo due diligence assessment which includes evaluation of management, investment thesis, fund structure, traction, and Nova Scotia impact.

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

Invest Nova Scotia Fund Investment

The Invest Nova Scotia Fund Investment targets venture capital funds that invest in high-growth start-ups based in Nova Scotia, aiming to foster a robust venture capital ecosystem. The program ensures these companies have the necessary funding to scale and succeed, thereby strengthening Nova Scotia's economic landscape.

Comprehensive Overview of the Invest Nova Scotia Fund Investment Program

Nurturing a robust venture capital ecosystem is pivotal for the economic growth of any region, and Nova Scotia is no exception. The Invest Nova Scotia Fund Investment program exemplifies this strategic thrust, aiming to stimulate the local economy by supporting venture capital funds that invest in innovative, high-growth start-ups based in Nova Scotia. This comprehensive guide delves into the specifics of the Invest Nova Scotia Fund Investment, outlining its goals, eligibility criteria, application process, and broader implications for the region's economy.

Objective of the Fund Investment Program

The primary goal of the Invest Nova Scotia Fund Investment program is to foster a more dynamic and robust venture capital ecosystem in Nova Scotia. This is achieved by partnering with venture capital funds that are committed to investing in high-growth start-ups within the province. The program aims to:

Strengthen the venture capital ecosystem in Nova Scotia
Increase the availability of venture capital for Nova Scotia’s high-growth start-ups
Diversify access to venture capital to ensure a broader range of opportunities

By achieving these objectives, the program not only supports the financial growth of start-ups but also contributes to the broader economic development of Nova Scotia.

Investment Process and Criteria

The investment process is meticulously designed to identify and support venture capital funds that align with the program's objectives. This process involves several key steps:

1. Evaluation of Expression of Interest Submissions

Invest Nova Scotia first evaluates submissions of interest from venture capital funds. This initial step helps to filter potential candidates who meet the basic criteria of the program.

2. Interview with Shortlisted Applicants

Shortlisted applicants are then invited for an interview. This face-to-face interaction allows the evaluators to gain a deeper understanding of the fund's management team, investment strategy, and overall alignment with the program's goals.

3. Due Diligence

The due diligence process is thorough and comprehensive. The evaluation encompasses several key aspects:

Management: The experience and expertise of the fund management team, their operational experience, investment track record, sector-specific networks, and diversity.
Investment Thesis: The fund's investment strategy, unique differentiators, deal flow, governance structure, and due diligence, selection, and approval processes.
Fund Structure: Management fees, compensation frameworks, governance and reporting frameworks, as well as Environmental, Social, and Governance (ESG) and Diversity, Equity, and Inclusion (DEI) strategies.
Traction: Market validation, committed and pipeline capital, investments made to date, and fundraising strategy.
Nova Scotia Impact: The strength of the fund's Nova Scotia presence, focus on key strategic sectors, support for underserved founders or regions, and the ability to attract outside capital through limited partners and co-investors.

Eligibility Criteria

To qualify for the Invest Nova Scotia Fund Investment, venture capital funds must fulfill the following criteria:

Be in the process of raising a venture capital fund
Commit to deploying 100% of Invest Nova Scotia’s investment in high-growth start-ups based in Nova Scotia
Maintain a presence in Nova Scotia sufficient to develop a pipeline of Nova Scotia-based start-ups and current investment opportunities

These criteria ensure that the funds supported by the program are genuinely dedicated to fostering growth and innovation within Nova Scotia.

Application Process

The application process for the Invest Nova Scotia Fund Investment program is straightforward. Interested venture capital funds should follow these steps:

Submit an Expression of Interest to Invest Nova Scotia.
Participate in an interview if shortlisted.
Undergo a thorough due diligence process.
If successful, finalize the terms of investment and begin deploying capital in eligible Nova Scotia-based start-ups.

Submissions are accepted and reviewed on an ongoing basis, allowing for flexible entry points for fund managers who are working within varying timelines.

Frequently Asked Questions (FAQs)

What is the typical size of a fund investment?

The size of a fund investment is contingent on several factors, including the size of the fund, its portfolio construction, and the outcome of the due diligence process. The goal is to support funds that are capable of raising substantial additional capital from a variety of limited partners.

Is there a maximum fund investment size?

Yes, Invest Nova Scotia may invest up to 25% of the total committed capital in a fund, with a maximum investment cap of $10 million.

How is a Nova Scotia-based start-up defined?

A Nova Scotia-based start-up is characterized by having the majority of its senior team members and overall employees situated in Nova Scotia.

What terms are involved?

Invest Nova Scotia invests alongside private and public limited partners, adhering to standard industry terms, which include standard management fees and carried interest.

Broader Impact on Nova Scotia's Economy

By supporting venture capital funds that invest in local start-ups, the Invest Nova Scotia Fund Investment program has far-reaching implications for the province's economy. This initiative catalyzes the growth of high-potential companies, leading to job creation, increased innovation, and a more vibrant, diverse economic landscape. It ensures that local start-ups have access to the necessary capital to scale their operations and thrive in a competitive global market.

Moreover, the program's emphasis on diversity, equity, and inclusion fosters a more inclusive business environment, ensuring that opportunities are accessible to a broader range of entrepreneurs. This inclusive growth model not only strengthens the local economy but also enhances Nova Scotia's reputation as a hub for innovation and investment.

Conclusion

The Invest Nova Scotia Fund Investment program is a crucial initiative for the province, aiming to bolster the venture capital ecosystem and support the growth of high-potential start-ups. Through a meticulous investment process and stringent eligibility criteria, the program ensures that the funds it supports are well-positioned to drive significant economic growth within Nova Scotia. For venture capital funds committed to fostering innovation and growth in the region, this program represents a valuable opportunity to access the capital required to make a meaningful impact.