The Manitoba Innovation Growth Sidecar Fund is a co-investment program, designed to help Manitoba investors support emerging ventures.
The Manitoba Innovation Growth Sidecar Fund is a co-investment program, designed to help Manitoba investors support emerging ventures by either investing in more deals per year or increasing the size of the investment so the venture can achieve additional milestones. It does this by providing a top-up to the investment by the private sector investor.
Eligible private sector investors may include individuals and corporations who qualify as accredited investors.
Type of Assistance
The fund will co-invest with private investors in innovative Manitoba companies that are ready to grow. Investments will range from a minimum of $200,000 to a maximum of $500,000, but will never account for more than 50 percent of the total investment. The investments will be guided by an advisory council of up to seven private-sector business people with extensive venture capital experience. Government investments will be on the same terms and conditions as private co-investors.
Note: The fund does not have an application form. Upon signing the deal with the venture’s management team, investors interested in co-investing with the Fund will provide the materials used during due diligence, proposed term sheet and cap table to the Province who will forward materials on to the advisory council. This allows the council to review all materials once they are received (this process may take a few weeks).