Northumberland Community Futures Development Corporation (Northumberland CFDC) – Nventure (2021)
Nventure is a co-investment fund (referred to as a “sidecar”) for technology startups and innovation-driven enterprises that have high-growth potential and substantial presence and impact in Northumberland County. It supports investment by qualified, early-stage asset class professionals (“Investors”), including angel investors, venture funds and other similarly experienced and accredited investors. Nventure may be accessed to de-risk or to augment an investment.
Comments on Funding:
Nventure will match eligible private-sector investments that Nventure approves on a 3:1 basis normally up to $250,000. Each such co-investment by Nventure will be on the same terms as the applicable private-sector investment.
Investees must be private for-profit corporations existing under the laws of Canada or a Canadian Province that have:
Nventure does not invest in the following areas:
An Investor or a prospective Investee may apply for funding from Nventure. Nventure is premised upon a qualified lead Investor performing the necessary due diligence, business viability assessment and valuation of a company. If Nventure’s investment committee is satisfied with the qualifications of the lead Investor, Nventure will co-invest on the same terms as the lead Investor.
Applications are accepted on an open and ongoing basis and co-investment decisions will normally be made within sixty (60) business days from the date of submission of complete documentation, including the due diligence report prepared by the lead Investor and the terms of the proposed investment.
The lead Investor profile and documentation to be provided includes:
Investee company profile and documentation to be provided includes:
Investee Reporting Requirements Investee’s receiving an investment from Nventure will be required to provide the following information on an annual basis via a short survey until Nventure is no longer invested in the Investee:
When It Ends: