Deloitte Canada has launched a new venture capital initiative designed to make minority investments in emerging technology companies.
Created with a vision of accelerating Canada’s innovative technology sector, the $150 million Deloitte Ventures investment represents the largest capital commitment to date amongst Canadian professional services firms.
“Deloitte Ventures comes at a time when the pace of change is at an all-time high. The COVID-19 pandemic accelerated the adoption of technology by both clients and competitors, and it’s becoming increasingly clear that the old way of doing business is no longer relevant in the digital world,” said Anthony Viel, Chief Executive Officer, Deloitte Canada.
“Deloitte Ventures is our commitment to stimulate Canada’s economy through investing in emerging technology companies that can lead globally, which has the added benefit of keeping our clients and Canadian business ahead of the disruption curve.”
Deloitte expects this initiative to catalyze the growth of important Canadian verticals such as financial technology, health & life sciences technology, consumer technology, cyber security, governance risk compliance, and sustainability and cleantech, among others.
In doing so, Deloitte Ventures also expects to accelerate the adoption of technology advancements, such as artificial intelligence and machine learning, and explore other emerging technologies crucial to the future of Canada’s economy and global competitiveness.
The Ventures initiative, developed in Deloitte Canada’s Chief Strategy and Innovation Office (CSIO), led by Tim Christmann, will provide capital and capability to Canada’s most promising entrepreneurs, spurring innovation, and confirming Canada as the best place to live and work.
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