The federal government has named six funds that will be responsible for doling out the $50 million slotted for the life science stream of the renewed Venture Capital Catalyst Initiative (VCCI).

The government renewed its commitment to VCCI in Budget 2021, promising $450 million across three streams. The three streams are funds-of-funds, life science, and inclusive growth. The life science stream was promised $50 million as was the inclusive growth stream.

The VCCI program was first created in 2017 as a successor to the Conservative government’s venture-capital action plan (VCAP), which was launched in 2013. Budget 2017 earmarked $400 million over three years for the VCCI program.