The city’s $100-million Opportunity Calgary Investment Fund has issued a request for proposals for a venture partner to invest in the venture capital fund, which will target Calgary’s early-stage startups. (Calgary Herald)

Talking point: OCIF will first put $7.5 million into the fund, which the venture partner, expected to be announced in July, will match. “This is a bold proposal. As a civic organization, this will be the first of its kind in the country,” said OCIF’s board chair Mark Blackwell. Calgary’s tech sector has been active lately with big raises and expansions. Geothermal startup Eavor raised US$40 million in February; fintech Neo Financial announced a $25-million raise and $25-million debt financing in December 2020; and Benevity reached a US$1-billion valuation the same month after a British private equity firm purchased a majority stake in the firm. Vancouver’s cleantech firm mCloud decided in February to shift its headquarters to the city, and MaRS Discovery District plans to build a technology innovation hub with the University of Calgary.