The $25 million from the Venture Capital Catalyst Initiative (VCCI) will go to Amplify Capital, Standup Ventures, Raven Indigenous Capital Partners, Pender Ventures and TandemLaunch. Under the program, the funds will invest in women and members of other communities that receive disproportionately few VC dollars. (The Logic)

Talking point: Ottawa named the first five firms of the VCCI’s $50-million inclusive growth stream in October. The main pool of capital ($350 million of the program’s $450 million  total) is distributed between four VC funds that match each federal dollar with three from the private sector. The government has contributed $820 million through VCCI—now in its third vintage—since the initiative launched in 2013. “These investments will attract at least $2.6 billion from the private sector and provincial governments, creating a monumental $3.4 billion of an impact on the Canadian venture capital ecosystem,” said Small Business Minister Rechie Valdez during Tuesday’s announcement at MaRS Discovery District in Toronto. Asked by The Logic if the government plans to fund VCCI indefinitely, Valdez said the program is “still 100 per cent needed.”