Ontario Emerging Technologies Fund
Covington Capital Corporation (“Covington”) was retained by the Ontario Capital Growth Corporation (“OCGC”) to evaluate applications in relation to Ontario Emerging Technologies Fund (“OETF”). Covington will also provide ongoing administration and monitoring of co-investments under the Fund.
The OETF will co-invest — with qualified venture capital funds and other private investors — directly into companies working within the focus areas defined by Ontario’s Innovation Agenda:
- Clean technologies
- Life sciences and advanced health technologies
- Digital media and information and communications technologies.
A discretionary, non-entitlement investment program, the OETF is a $250 million fund that will commit a maximum of $50-million per year for five years. Investments will be made alongside qualified co-investors into innovative, high-growth Ontario companies.
Only Qualified Investors — those approved as eligible to submit a potential investment opportunity for consideration — can propose investments to the fund. Companies interested in investment must work through Qualified Investors. The OETF will only consider investments into companies working within the three sector areas (above).
The OETF will co-invest alongside Qualified Investors on the same terms and at the same time.
The OETF is managed by the Ontario Capital Growth Corporation, an agency of the Ontario Ministry of Research and Innovation. For further information, including program guidelines and application forms, visit the OETF website directly.