Deloitte Ventures will target investments in Canada-based startups, providing up to $8m through each deal.
US-based accountancy and consulting firm Deloitte’s Canadian subsidiary launched a corporate venture capital (CVC) unit called Deloitte Ventures yesterday with C$150m ($119m) in capitalisation.
Deloitte Ventures will focus on early-stage Canada-based developers of financial, consumer, data and artificial intelligence, cybersecurity, healthcare and life sciences, governance risk, compliance, sustainability or clean technology.
The unit will invest approximately $1.5m to $8m per company, taking minority stakes in startups sized at up to 10%, Deloitte Ventures managing partner Talia Abramowitz told The Globe and Mail.
Abramowitz added in an official statement: “Canada’s technology sector is thriving, and we are seeing some incredible companies emerge.
“Now is the time to supercharge our technology ecosystem by encouraging further growth, innovation, equity and inclusion. Through Ventures, we will take an active role in helping accelerate the trajectory of our portfolio companies, which really benefits the Canadian business landscape, and ultimately, Canada as a whole.”
Deloitte is…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
