Ontario Capital Growth Corporation (OCGC) has issued a call for expression of interests (EOIs) to find fund managers to manage a proposed $137.5M Cleantech Equity Fund.
The 2016 Ontario Budget identified $55 million to develop new approaches to making equity investments by the Government of Ontario in clean technologies firms. OCGC will implement this by establishing one or more limited partnerships in which OCGC will participate as a limited partner on the same terms as the other limited partners.
The expression of interest will identify qualified managers for the formation and management of this Cleantech Equity Fund. It is anticipated that OCGC’s prospective anchor investment will leverage a minimum of one and one-half times (1.5x) in additional capital commitments from other investors.
The deadline for submission of EOIs is March 13, 2017.
Ontario Capital Growth Corporation (OCGC) is Board-governed provincial agency that manages the interest of the Government of Ontario in the $205 million Ontario Venture Capital Fund and the $300 million Northleaf Venture Catalyst Fund. OCGC also manages and operates the Ontario Emerging Technologies Fund.