- 6 years ago


Last week was a pretty phenomenal one for Venture Capital and the Canadian tech startup community.

To start, on March 2nd Toronto’s Mantella Venture Partners launched a $20 Million early stage technology fund lead by Robin Axon and Duncan Hill, both previously with Ventures West.

Then on March 3rd the Quebec Government committed $50 Million to three technology company seed funds including Montreal Startup‘s FounderFuel Ventures for investments in the information and communications technologies industry.

Finally on March 4th, Canada’s Budget 2010 announced that non-residents will no longer need to pay withholding tax on the sale of shares in a Canadian corporation. This change to Section 116 of the Income Taxt Act is particularly beneficial to the high tech sector which has lobbied for years to obtain relief.

It makes you wonder what we could be in store for this coming week?