We are proud that Sophie Gupta, Principal with our Innovation Growth Fund, participated in a panel discussion of experts as part of the Canadian government’s announcement of the recipients of Stream 2 of the Venture Capital Catalyst Initiative (VCCI). The funding announcement was made by the Honourable Mary Ng, Minister of Small Business and Export Promotion at Notman House in Montreal.
VCCI is a $400 million initiative of the Government of Canada created with the objective of building a portfolio of large funds-of-funds and alternative models to strengthen and broaden the Canadian venture capital (VC) ecosystem and increase the availability of late-stage VC over time.
Together, seven funds, which have strategies focused on supporting underrepresented groups such as women-led or diverse fund management teams and entrepreneurs, or emerging regions and sectors, while simultaneously prioritizing lucrative financial returns to investors, will receive a total of $50 million.
Sophie has been a long-time advocate for diversity and gender equality in the VC industry and more broadly. As Co-Chair of the Canadian Venture Capital and Private Equity Association’s (CVCA) Diversity and Inclusion Committee, she is actively pursuing her goal of making the tech world and the Canadian investing community more inclusive and diverse.
Yaletown would also like to congratulate all the recipients, not only for their tremendous work as venture capitalists, but also for their strong commitment to diversity and inclusion.
The Canadian economy can only be stronger if women and other under-represented groups can access capital to grow their business.