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Growth fund to offer small companies help in exchange for minority stake Add to ...

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A leading proponent of a proposed growth fund for Canadian companies offered new details Thursday about how the initiative could work.

Victor Dodig, chief executive officer at Canadian Imperial Bank of Commerce, said that the so-called Canadian Business Growth Fund would connect small and medium-sized companies to the cash they need in exchange for a minority equity stake. The companies would also be provided with access to expert advisers. This network would include active and retired executives, academics and specialists in certain areas, such as how to sell goods and services abroad.

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