In a move that will provide a major boost to life sciences startups in Ontario and the Canadian health economy overall, the University of Toronto, McMaster University and Venture Ontario announced they are joining with veteran investor Genesys Capital to create a new life sciences venture capital fund.
The Genesys University Seed Fund will be a vital source of early-stage capital for fledgling startups, helping to translate promising university-based commercial ideas into viable companies that address critical health challenges, improve patient care and create cutting-edge Canadian jobs. To date, the fund has received support from several backers including U of T, McMaster, the Temerty Group, Venture Ontario and RBC, and it has held a first close representing over $30 million of commitments.
Source: U of T, McMaster Announce Early-Stage Life Sciences Venture Fund With Genesys Capital
