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The University of British Columbia and InBC Investment, the province’s $500-million strategic investment fund, will both contribute $10 million to the UBC Catalyst Ventures Fund. The fund is also seeking as much as $20 million in additional private capital. (The Logic)
Talking point: The fund will focus on companies spun off of licensed UBC research, as well as companies created by the university’s faculty, staff, students and recent alumni. It will make its first investments in life sciences and deep tech. There are more than 280 spinoff companies from UBC research, including Vancouver-based biotech AbCellera. “This partnership aligns with our goal to attract more capital to B.C. and scale more businesses, anchoring them here to generate economic and jobs growth in the province,” said Thomas Park, InBC’s chief investment officer, in a statement.
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