Driving Innovation: Investor Venture Capital
The Immigrant Investor Venture Capital (IIVC) Pilot Program was a federal business immigration program in Canada that aimed to attract high-net-worth individuals who were willing to make an at-risk investment of CAD $2 million in a Canadian venture capital fund. The program closed applications on December 30, 2015, and is no longer an active program.
The IIVC seeks overseas investors with demonstrated commercial skills and competencies who will contribute to the Canadian economy while successfully integrating into the community. Qualified persons can apply for an investor visa, which grants those who qualify and their family’s permanent residence status in Canada.
Requirements
Successful applicants to the IIVC Pilot Program received a conditional permanent residency in Canada, which could be converted to full permanent residency after meeting certain conditions related to the investment.
The IIVC Pilot Program was designed to attract high-net-worth individuals who were willing to make a significant long-term investment in the Canadian economy, particularly in innovative and growth-oriented sectors. The program was also intended to encourage the growth of Canadian start-ups and small and medium-sized businesses by providing them with access to venture capital funding. However, the IIVC Pilot Program was discontinued in 2015 due to a lack of demand and criticisms over its effectiveness.