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NVCF provides $10m to support Versant’s Canadian expansion

26 Jun 2014

kanadaVenture capital firm Northleaf Venture Catalyst Fund (NVCF) has provided $10m to Versant to fund the healthcare-focused venture capital firm’s expansion in Canada.

Versant currently has incubators in Vancouver, Toronto and Montreal. The firm invests in early-stage businesses and partners with pharmaceutical companies to launch novel therapeutics companies.

NVCF director Ian Carew said, “This is a unique opportunity for NVCF to support investment in Canada’s early-stage life sciences industry by a top-tier global firm.

Companies backed by Versant include biopharmaceutical business CRISPR Therapeutics, which is focused on developing a gene editing technology.

Earlier this year the company secured a $15m Series A investment from Versant.

“Versant has already begun implementing its specialized and successful model for investing in, and launching, early-stage companies in Canada.

“Versant will not only contribute to growing the most promising Canadian life sciences companies, but will also help anchor the development of a robust biotechnology and medical technology eco-system in Canada going forward.”

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