AI news brief
U of T, McMaster anchor new venture capital fund to back life sciences spinouts
Globe and Mail - Business - 2026-07-08
AI Summary
University of Toronto and McMaster University are co-anchoring a new $40-million venture capital fund, Genesys University Seed Fund, to support life sciences startups, primarily spinouts from these institutions. The Ontario government is contributing up to $10-million, with Royal Bank of Canada also investing in the fund. This initiative aims to retain the economic benefits of Canadian research discoveries within the country by fostering homegrown innovation.
Key takeaways
- New $40M venture fund targets life sciences startups.
- U of T and McMaster are key investors.
- RBC is among the investors in the fund.
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