McMaster University and the University of Toronto have joined Venture Ontario and venture capital firm Genesys Capital to create a seed fund for life science startups. The Genesys University Seed Fund will support startups that focus on current challenges in the health sector. It has already received $30M in commitments from the partners and external investors. U of T President Melanie A Woodin explained the reasoning for the creation of the fund, saying that Canada has “no shortage of ideas or talent,” but that “what we lack is the capital to scale them.” The universities plan to use their returns to fund additional research and innovation at their institutions, generating further investment opportunities for the fund.
U of T
| McMaster
