BC Renaissance Capital Fund, Vancouver, British Columbia, hired Arch Venture Partners, Celtic House Partners, Kearny Ventures Partners, VantagePoint Venture Partners, Ventures West Management and Walden Venture Capital as managers to invest C$90 million (US$89.4 million) in British Columbia-based venture capital, confirmed David Greer, spokesman for Minister of Economic Development Colin Hansen. The new fund, created by the provincial government, will invest 32% in information-technology companies, 25% each in clean-technology and life-sciences companies, and 18% in new media.
The BC Renaissance Capital Fund will help British Columbia develop world-class anchor companies and continue to build on the culture of innovation we have in this province, Mr. Hansen said in a news release. Attracting more private venture capital to B.C. will help our most promising and innovative companies to grow and create jobs.
An RFQ was issued about a year ago, Mr. Greer said.