Invest Nova Scotia — Investment
Last Update: January 24, 2025
NS, Canada
Early stage investment for Nova Scotia innovators
Invest Nova Scotia — Investment at a glance
Eligible Funding
- Up to 25% of project cost
Timeline
- Continuous Intakes
Financing Type
Loans and Capital investments
Eligible Industries
- Information and cultural industries
- Finance and insurance
- Professional, scientific and technical services
Grant Providers
- Government of Nova Scotia
- Invest Nova Scotia
Status
Open
Overview of the Invest Nova Scotia — Investment program
Venture capital fund targeting emerging venture-grade technology companies with high growth potential and attractive risk-return prospects in Nova Scotia.
Financing terms and conditions
This investment provides strategic financing options to enhance the growth potential of Nova Scotia-based high-growth start-ups. The funding terms ensure alignment with industry standards and collaboration with various partners.
- Investments are made alongside private and public limited partners, following standard industry terms.
- The maximum investment from Invest Nova Scotia is up to 25% of the fund's total committed capital, capped at $10 million.
- Management fees and carried interest apply as per standard industry practices.
Eligible projects & activities
This grant supports venture capital funds that invest in high-growth start-ups in Nova Scotia. The eligible projects focus on fostering a robust venture capital ecosystem and enhancing the availability of capital for innovative enterprises in the province.
- Developing and managing venture capital funds targeting high-growth Nova Scotia-based start-ups.
- Strategies to maintain a strong presence in Nova Scotia to build a pipeline of local start-up investments.
- Initiatives that attract additional capital from limited partners and co-investors to the region.
Examples of admissible projects:
$ 7,000,000
Establishment of a venture fund supporting AI start-ups
$ 8,000,000
Funding a venture capital initiative for green technology startups
$ 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
Eligibility criteria of the Invest Nova Scotia — Investment program
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.
Who is eligible?
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.
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.
Eligible geographic areas
This grant supports venture capital funds investing in Nova Scotia-based high-growth start-ups. Eligible geographical areas focus on fostering economic growth within Nova Scotia.
- Investments targeting high-growth start-ups located within Nova Scotia.
Eligibility criteria of the Invest Nova Scotia — Investment program
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.
How to apply to the Invest Nova Scotia — Investment program
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.
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.
3
Application Review
Upon submission, Invest Nova Scotia will review the expression of interest and determine if it meets their criteria for further consideration.
4
Interview Process
If shortlisted, participate in an interview conducted by internal and external venture capital professionals.
5
Due Diligence
Undergo a thorough due diligence process assessing various criteria such as management experience, investment thesis, and Nova Scotia impact.
6
Final Application Submission
Submit any additional documentation requested during due diligence to complete the application process.
Additional information
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
Contact Government of Nova Scotia
info@investnovascotia.ca
1.800.260.6682
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