Got a good idea but need some help getting started financially? Winnipeg offers a variety of Venture Capital funds from both local and national programs. Contact the experts and get the leg up you’re looking for.
Capital Investment Activity
According to the Manitoba Bureau of Statistics, the total new capital investment in Manitoba is expected to reach $7.98 billion in 2006, up $1,018.8 million from the 2005 level of $6.96 billion. Manitoba’s annual growth rate for 2006 is expected to be 14.6%, above the national gain of 6.1%.
Private sector capital spending for Manitoba is expected to grow by $539.8 million or 10.4% from 2005 to 2006, reaching a level of $5.73 billion. Private sector capital spending at the national level should grow by 5.1% this year.
Areas of growth in 2006 compared with 2005 include manufacturing (up $249.2 million or 60.8%), education services (up $54.6 million or 37.6%), public administration (up $210.6 million or 31.3%) and construction (up $48.1 million or 27.9%).
Venture Capital
ENSIS Growth Fund
1120 – 200 Graham Avenue
Winnipeg, MB R3C 4L5
Ph: 204-949-3700
Fax: 204-942-0591
Website: www.ensis.ca
A labour-sponsored investment fund that focuses on small- and mid-sized Manitoba businesses who are in the early growth, expansion and restructuring stages of development. Specifically, the Fund targets companies that have a high value-added component to their products, services or technology, and a sustainable, competitive advantage at the global level. Investments range from $250,000 to a maximum of $5 million, or 10 per cent of net assets, and are structured to best meet the needs of the investee company.
Manitoba Capital Fund
2195 – 360 Main Street
Winnipeg, MB R3C 3Z3
Ph: 204-925-8401
Fax: 204-949-0602
A private sector initiative that provides subordinate debt to small- and medium-sized businesses that have the potential for significant growth, a competent and experienced management team, a satisfactory and sustainable cash flow, and adequate collateral coverage. Funding ranges from $250,000 to $1 million, and the Fund seeks returns in the 18 to 20 per cent range. The Fund will not consider businesses whose principal activities are real estate, local retail, restaurants, natural resource exploration, primary farming, fishing, trapping, logging, non-profit operations, or businesses that derive the majority of their revenue from providing services to the Manitoba government.
Manitoba Science and Technology Fund
Scitech Management Inc.
303 – 275 Broadway
Winnipeg, MB R3C 4M6
Ph: 204-925-2404
Fax: 204-942-2785
Offers investments of $50,000 to $1 million to businesses engaged in the development of new technologies in the following sectors: biotechnology, therapeutic products, medical devices, diagnostic products, health care services and information systems, information technology (including hardware and software) and communications technology. Funding can be applied toward the following stages of development: research and early discovery; commercialization of research and technology; and product development, production and marketing.
Venture Capital Business Development Bank of Canada
1100 – 155 Carlton St.
Winnipeg, MB R3C 3H8
Ph: 1-888-463-6232 (this number services all inquiries across Canada)
Website: www.bdc.ca
Stimulates the formation of and provides venture capital to Canadian businesses in leading-edge industries with a strategic market position and a dynamic management team. Funds ranging from $500,000 to $5 million can be used to help finance a company’s capital-intensive research and development cycle, broaden a company’s export markets, or take the company public. The Business Development Bank will actively seek divestiture opportunities once a durable benefit to each party has been achieved. The following types of businesses are not eligible: news media, real estate, forestry, mining, oil and gas operations, and restaurants and bars.
Western Technology Seed Investment Fund
Business Development Bank of Canada
1100 – 155 Carlton St.
Winnipeg, MB R3C 3H8
Ph: 1-888-463-6232 (this number services all inquiries across Canada)
Website: www.bdc.ca
A venture capital fund managed by Venture West, the Business Development Bank of Canada, and Cascadia Pacific Management to provide financing and management support for early-stage technology projects in Western Canada with major market potential. Consideration will be given to companies in computer-related fields (including software, systems and hardware), new media, communications and electronics, biotechnology and pharmaceuticals, energy and environment, and other areas with strong intellectual property positions. Financing of $100,000 to $500,000 is available to obtain, advance and protect technology, form companies, develop a business plan, hire key personnel, and other activities associated with the formation and operation of a new company.