AI research institute Mila has partnered with software investor Inovia Capital to create the Venture Scientist Fund, an early-stage venture capital fund for AI companies arising from Canadian academic research. The partners explained that the fund is being created to bridge the gap between the large amount of AI talent in Canada and the relatively low amount of venture capital invested in Canadian AI companies. The partners aim to raise $100M, which will be invested in about 55 AI-focused companies from Canadian research institutions including McGill University, Université de Montreal, University of Alberta, the University of British Columbia, the University of Toronto, and the University of Waterloo.
Mila
| Global Corporate Venturing
| Globe and Mail
