After 15 years of nurturing Canada’s top startups, the University of Waterloo is taking a new approach.
The university is utilizing $5 million from its $800 million endowment to establish a venture capital fund aimed at investing in early-stage companies, particularly those developed at UWaterloo.
The fund, called Velocity Fund II, will operate independently of the university and its startup accelerator, Velocity. It plans to raise a total of $25 million, with an initial closing in Q1 2024.
This marks the first time the university’s endowment will invest in venture capital, providing a source of revenue for its research activities. Want to know more?
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