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With new growth fund, big banks preach patience, patriotism Add to ...

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Canada’s largest financial institutions have pooled more than $500-million in capital to help grow Canadian businesses, and hope to double their investment in a decade – if the returns are adequate.

The Canadian Business Growth Fund is a private-sector experiment urged on by the federal government, which will serve as a source of bridge funding between early-stage venture capital firms and the public markets. The name of the game is patience, with many investments carrying five- to 10-year time horizons.

New business fund could double to $1-billion: Morneau (The Canadian Press)
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