Anthony "Tony" Lacavera, the founder of Wind Mobile and a well-known venture capital figure, has launched a new venture capital fund that will focus on helping new Canadian tech companies grow and stay in Canada. The $100 million fund will be led by Globalive Capital, Tony's venture capital firm, which is currently looking to institutional investors to help raise the required capital.
In his launch announcement, Tony stated that one of the biggest issues facing startups in Canada remains locating and then securing adequate growth capital.
This fund will focus on filling the funding gap that may arise at the early stages of any startup which, in the past, has prompted some Canadian startups to move outside of Canada. In his own words, Tony "wants to accelerate growth in Canada."
Tony's fund will only operate in 2016. It is planned to close by the end of 2016, at which point it will switch to further growing the companies that it has funded.
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