GrowthWorks, CVCA Protest Cuts
Joining venture capital funds across the country, GrowthWorks Atlantic is protesting the federal government’s decision to phase out funding for Labour-Sponsored Venture Capital Corporations, saying it will hurt entrepreneurship in the outlying parts of the country.
GrowthWorks Atlantic is a Halifax-based fund that has $27 million under management, including $21 million invested in 19 Atlantic Canadian companies. It has raised money over several years by attracting funds from retail investors who are incentivized by federal and provincial tax credits.
However, the 2013 federal budget