British Columbia Startup Fund Plots Growth Despite Budget Strain

An investment fund for startups owned by British Columbia’s government is studying how to recapitalize and grow, including the possibility of taking in private capital, its chief executive officer said.

The western Canadian province launched InBC Investment Corp. in 2021 to provide money to new companies and venture funds, prioritizing climate technology and other themes such as supporting reconciliation with Indigenous people.

Seeded with an initial C$500 million ($366 million), InBC has deployed about 35% of that so far into 15 businesses and nine venture funds so far, spanning recycling, robotics, carbon capture and agri-tech.

CEO Jill Earthy wants the ...