The Province of Ontario partnered with leading institutional investors to invest in the $205 million Ontario Venture Capital Fund. As the largest fund of its kind in Canada, OVCF will serve as a catalyst in ongoing efforts to create a profitable, globally competitive and self-sustaining venture capital industry in Ontario.
The fund is structured as a limited partnership among the Province of Ontario and the institutional investors, including The Toronto-Dominion Bank, OMERS Capital Partners, RBC Capital Partners, Manulife Financial and Business Development Bank of Canada, as limited partners. TD Capital Private Equity Investors will be the general partner and manage the fund.
Davies Ward Phillips & Vineberg LLP advised the Province of Ontario with a team consisting of Jay Swartz, Sarbjit Basra, Tarne Whiteley, Robin Upshall, Claire Kennedy and Scott Semer.
Wendy Del Mul of Heenan Blaikie LLP advised the institutional limited partners: OMERS Capital Partners, RBC Capital Partners, Manulife Financial and Business Development Bank of Canada.
Torys LLP advised The Toronto-Dominion Bank and TD Capital Private Equity Investors with a team consisting of Peter Ballantyne, Bernard Kwasniewski, Harris Kaplan and John Unger.