WEL Manitoba closes 3rd fund fully subscribed
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Women’s Equity Lab Manitoba has closed its third fund fully subscribed at 60 limited partners.
It marks the first time in the all-women angel investment fund’s three-year history a fund has reached full subscription, WEL Manitoba announced in a release on Friday.
With each limited partner contributing $5,000 in investment capital, the fund will deploy $300,000 into three to five early-stage, Canadian-headquartered, technology-enabled startups.
Cheque sizes will range from $35,000 to $80,000 per company. Active investing in portfolio companies begins this summer.
The limited partners — 75 per cent of whom are beginner investors or new to angel investing — come from every corner of Manitoba’s economy, including law, health care, agriculture, technology, skilled trades, creative sector and public service.
WEL Manitoba is part of a national angel investing platform that has collectively invested $6.16 million into 66 primarily women-owned and -led startups. The organization spans nine cities and regions.
—Free Press staff