Today's News |
BC Government Announces $500 Million Investment Fund to Invest in High Growth Potential Firms
Tuesday, September 22, 2020
Vancouver, BC, September 22, 2020--(T-Net)--The BC Government has announced a new $500 million investment fund to invest in BC high growth potential firms.
The $500M fund will invest in high growth potential firms to help them scale up and reach their highest potential and "growing and anchoring talent, intellectual property, innovation, investment and jobs in B.C., and driving economic growth in every region", according to the government.
The new investment program is still currently in development, but from what we understand, InBC's investment decisions will be based on a double bottom line approach. That means delivering commercial returns and also achieving priorities that reflect the values and needs of British Columbians (or the current government in power).
The BC government says decisions will be guided by the BC Economic Plan: A Framework for Improving British Columbians' Standard of Living, and the CleanBC strategy.
InBC expects that its investment strategy and criteria will be published during spring 2021.
About InBC
InBC is a $500 million strategic investment fund of the Government of British Columbia. It will invest in high growth potential firms, growing and anchoring talent, intellectual property, innovation, investment and jobs in B.C., and driving economic growth in every region.
InBC was announced in September 2020. The investment program is currently in development. InBC will invest in small and medium-sized B.C. companies to help them scale up and reach their highest potential, while generating returns that support a growing economy that benefits all British Columbians.