Equity Investment Programs in Canada: Funding Growth Without Taking on Debt
Looking to raise capital for a high-growth business in Canada? This article explains equity investment programs in Canada, how they work, the types of investors you may encounter. We also list current government-supported or public-private equity programs.
Whether you’re a startup founder or scaling a fast-growing company, this guide will help you understand if equity financing is the right path for your business.
✅ What Is Equity Investment?
Equity investment is a type of business financing where an investor provides capital in exchange for ownership shares in your company. Unlike loans, equity investment does not require repayment — instead, the investor becomes a part-owner and earns a return if your business grows in value.
This form of financing is common among startups and high-growth businesses because it:
- Offers significant capital without adding debt
- Brings in investors who often provide strategic guidance and connections
- Requires you to give up a percentage of ownership and, in some cases, a degree of control
Equity investment is long-term and risk-sharing — both you and the investor are betting on the business’s success.
✅ Common Types of Equity Investors in Canada
Canada has a diverse equity funding ecosystem. The main types of investors you’ll encounter through programs or networks include:
◾ Angel Investors
Wealthy individuals who invest personal capital into early-stage startups — often the first source of external equity funding. Many participate through angel networks.
◾ Venture Capital (VC) Firms
Professional investment firms that fund startups and scale-ups with high-growth potential, particularly in tech, life sciences, and clean energy. They typically seek larger returns and more ownership than angels.
◾ Public-Private Investment Funds
These are government-supported venture funds or co-investment programs that match private sector investments. Examples include BDC Capital and provincial innovation funds.
◾ Accelerators and Incubators (with Investment)
Startup programs that offer funding, mentorship, and resources in exchange for a small equity stake — often used to prepare companies for further VC investment.
◾ Crown Corporations & Regional Funds
Organizations like BDC Capital and Investissement Québec provide equity investments alongside advisory services. Some provinces and territories also support regional innovation funds or Indigenous investment entities.
✅ What Equity Investment Programs Typically Offer
Equity investment programs don’t just provide capital — they often include added support to accelerate business growth. These benefits can include:
- Initial funding, ranging from $25,000 to several million depending on stage and sector
- Ongoing mentorship from experienced entrepreneurs or investors
- Access to investor and industry networks for follow-on funding, partnerships, or customers
- Credibility and visibility, which can help attract further investment or strategic partners
- Follow-on rounds, where investors reinvest in future funding stages
Many programs, especially those with public backing, aim to increase access for underrepresented entrepreneurs (e.g. women, Indigenous, Black, or newcomer founders).
✅ Who Is Equity Investment For?
Equity investment is not the right fit for every business. It’s best suited for:
- Startups and scale-ups with high growth potential
- Businesses in innovation-driven sectors, such as software, biotech, clean tech, or advanced manufacturing
- Companies with a scalable business model (i.e. revenue increases faster than costs)
- Founders willing to share ownership and decision-making with external investors
- Teams that can demonstrate traction — revenue, user growth, intellectual property, or market validation
Equity funding is not ideal for lifestyle businesses, small local operations, or companies not planning for rapid growth or eventual exit.
✅ How to Access Equity Investment Programs in Canada
Raising equity investment is both a process and a relationship-building exercise. Here’s how to get started:
1. Build a strong business case
Prepare a clear, compelling pitch deck with your business model, target market, competitive edge, financial projections, and team strengths.
2. Understand your valuation
You’ll need to determine how much your business is worth and how much equity you’re willing to offer in exchange for funding.
3. Research and apply to programs
Look for:
- Government-backed venture funds
- Accelerators or incubators that offer investment
- Angel investor networks active in your province or sector
- Regional or sector-specific co-investment initiatives
4. Network and seek referrals
Warm introductions carry more weight than cold outreach. Attend pitch events, talk to past program participants, and engage with innovation hubs.
5. Negotiate and complete due diligence
Investors will review your business in depth before committing. Be prepared to share detailed financials, legal documents, and customer data. Negotiate terms carefully — ownership percentage, voting rights, exit conditions, etc.
✅ Alternatives or Complements to Equity Investment
Equity investment is one of several funding options — and it can often be combined with other forms of support:
◾ Grants
Non-dilutive funding that does not require repayment or ownership trade-off. Ideal for R&D, hiring, or early product development.
◾ Loans
Government-backed loans offer capital without giving up equity — useful for operational costs or asset purchases.
◾ Tax Credits
Programs like SR&ED or provincial innovation credits reduce costs and can free up capital without raising funds.
◾ Convertible Notes or SAFEs
Hybrid funding models where money is invested now, with conversion into equity at a later stage — often used before a formal valuation is set.
✅ Government Equity Investment Programs in Canada: Current Federal & Provincial Programs
In the following sections you’ll find equity investment programs that are currently offered by the Canadian federal government, as well as various provincial governments:
Federal Equity Investment Programs Currently Available:
Up to $2,000,000 a year in 9 to 11 projects; investments to date have ranged from $80,000 to $240,000 per project
Investment
Description:
The Fund is a catalyst for Canadian artists to take their projects to a new level. Our investments provide the additional time and resources that bold, ambitious projects need to be successful on the national and international stage.
Loan financing of no more than 90% of the Indigenous equity purchase, with a loan size between $5 million and $100 million
Loan
Description:
Through the IEI, our investment team looks to lend to Indigenous communities to provide them with access to capital to purchase equity stakes in infrastructure projects in which the CIB is also investing. Economic returns from these projects can be reinvested in the community, narrowing the economic and infrastructure gap among Indigenous communities.
No fixed amount
Loan, Investment
Description:
FinDev Canada offers financial solutions such as debt and equity to clients operating in developing countries that demonstrate sustainable social and economic benefits for local communities.
Direct equity investments with a minimum FCC Capital investment commitment of $5 million; fund investments (as Limited Partner) with a minimum commitment of $10 million; flexible lending including venture debt, mezzanine financing and convertible debentures; FCC Capital does not offer grants or subsidies
Investment, Loan
Description:
FCC Capital goes beyond FCC’s traditional core offering of senior secured lending to bring a wider range of capital solutions and value creation for the sector.
Our goal is to foster innovative ideas, scale impactful businesses and help attract additional investment.
Direct equity investment of $5 million to $25+ million, with potential follow-on funding; minority ownership up to 25%
Investment
Description:
EDC Investments is a long-term investment program with over $4 billion in capital. We support high-growth Canadian exporters expanding across global markets.
Direct equity investment of $5 million to $25+ million, with potential follow-on funding; minority ownership up to 25%
Investment
Description:
EDC Investments is a long-term investment program with over $4 billion in capital. We support high-growth Canadian exporters expanding across global markets.
No fixed amount
Investment
Description:
The CIB’s critical minerals investments will facilitate the construction of enabling and supporting infrastructure like access roads, clean power generation and transmission and wastewater management facilities in remote areas of Canada. Investments can unlock critical mineral development and support economic development while addressing risks which impact the ability of mining companies to raise sufficient pre-mine construction financing.
no fixed amount
Loan, Loan Guarantee, Investment
Description:
The Community Futures program helps to create jobs in rural areas. This is done with the help of more than 40 Community Business Development Corporations (CBDCs) throughout Atlantic Canada.
Financing to the private sector with repayment aligned to use levels, under a minimum of $500 million dedicated by the CIB to the initiative
Loan, Investment
Description:
The Charging and Hydrogen Refuelling Infrastructure Initiative (CHRI) aims to reduce transportation sector emissions by accelerating the private sector’s rollout of large-scale ZEV chargers and hydrogen refuelling stations, helping to spur the market for private investment.
We provide financing to the private sector to share in charging and refuelling infrastructure use risk by aligning repayment with use levels.
No fixed amount
Grant, Investment
Description:
The Dairy Innovation and Investment Fund (DIIF) aims to help dairy processors in making investments to increase competitiveness over the long term and adapt to the new market realities.
No fixed amount
Investment
Description:
We are one of the world’s largest venture capital funds dedicated to investing in women-led technology companies and helping build a robust ecosystem to support women in tech today and in the future.
Bespoke debt, convertible debenture or equity funding (patient and flexible lending, minority equity co-investments) from a $160M financing envelope
Investment, Loan
Description:
The Intellectual Property-Backed Financing solution from BDC Capital recognizes the strength and value of your intellectual property (IP) portfolio and helps you develop, scale and expand your business.
No fixed amount
Investment
Description:
With deep expertise and agility, we manage $300 million in capital — investing in Canada’s most innovative technology companies, firms that are redefining how the world works by bringing digital transformation to a wide range of industries.
No fixed amount
Investment
Description:
Our Industrial Innovation Venture Fund brings direct investment and strategic support to visionary management teams with the desire, ambition and courage to become Canada’s next generation of global leaders.
No fixed amount
Investment
Description:
The $500 million Growth Venture envelope continues and expands on the mandate of the previous Funds I and II. It targets late-stage, innovation-based businesses that are at an inflection point and show strong potential for meaningful scale.
Equity investments from $3M to $45M, acquiring ownership stakes up to 49%, for growth capital or an ownership transition
Investment
Description:
We invest equity capital in Canadian mid-market growth businesses as a minority investor. In partnership with management teams and stakeholders, we work to accelerate growth and to create the next generation of national and global champions.
Financing from $250,000 to $35M, repayable over 2 to 8 years
Loan, Investment
Description:
You’re looking to raise working capital for growth initiatives but have insufficient tangible assets to secure conventional financing and don’t want to dilute your ownership. Our Growth & Transition Capital experts can offer you a choice of customized growth financing solutions to ensure your project’s success.
Working with our team of expert, experienced professionals who know your local market, your company can raise capital for projects such as R&D, and product and market development, or to invest in intangible assets such as intellectual property and goodwill.
Financing from $250,000 to $35M, repayable over a period of 2 to 8 years, with capital payments postponable for the first 12 months
Loan, Investment
Description:
You’re looking to raise money to buy a business but have insufficient or no tangible assets to secure conventional financing and don’t want to dilute your ownership. Our Growth & Transition Capital experts can help you put together a financial package that is viable and advantageous.
Our team of experienced professionals will work with you to find the optimal financing structure for raising capital to buy a competitor’s or supplier’s business, for example.
Loans of more than $350,000 (loans of $350,000 or less go through the Small Business Loan), with a higher percentage of financing, longer repayment periods and payments matched to your cash flow, plus consulting services
Loan
Description:
Flexible financing and expert advice to grow your creative or cultural business
We provide flexible financing that works alongside tax credits and grants, combined with sector-specific expertise and advisory support.
Financing from $250,000 to $35M, repaid over 3 to 8 years, with capital payments postponed for the first 12 months
Loan
Description:
You’re looking to raise money to buy a business but have insufficient or no tangible assets to secure conventional financing and don’t want to dilute your ownership. Our Growth & Transition Capital experts can help you put together a financial package that is viable and advantageous.
Our team of experienced professionals will work with you to find the optimal financing structure for raising capital to buy a competitor’s or supplier’s business, for example.
Early-stage equity investments – Seed and Series A, from a $200 million fund
Investment
Description:
Our Deep Tech Venture Fund helps early-stage companies develop their markets and commercialize their innovations in Canada and abroad.
Alberta Equity Investment Programs Currently Available:
No fixed amount
Investment
Description:
The Opportunity Calgary Investment Fund was created by the City of Calgary in 2018 with a mandate to accelerate diversification and strengthen our economy.
We’re shaping Calgary’s economic future by finding opportunities with the greatest potential benefit to the city, fuelling those opportunities with capital and fostering their success by integrating each investment into a network of resources and people.
Typically $250,000 equity co-investment in the first financing round with a new company, matched by angel or private co-investors
Investment
Description:
Accelerate Fund looks to invest in high growth potential companies serving business or enterprise customers – that need funding to prove out a big market, attract talent to their team, and grow their companies large enough to warrant future capital raises to support that growth.
We invest in entrepreneurs leading tech startups that are private, incorporated, and have a head office and more than 50% of employees located in Alberta.
B.C. Equity Investment Programs Currently Available:
Cheque sizes typically range between ~$5 million to ~$10 million+ per fund, invested alongside other investors
Investment
Description:
We work with investment funds seeking to support growth businesses driving innovation and economic, social and environmental impacts in B.C.
Wildfire Preparedness, Flood Preparedness, Extreme Heat & Cold Preparedness and Creative Solutions: each 40% cost-share up to a maximum of $50,000; subject to a per-farm lifetime funding cap of $100,000 across all BMP categories (April 1, 2025 to March 31, 2028)
Grant
Description:
The Beneficial Management Practices Program is an on-farm cost-share incentive program to assist farm and ranch operations in mitigating some of the risks identified in their associated Environmental Farm Plan or through on-farm extreme weather events.
On-farm equipment/infrastructure projects facilitate the sustained adoption (ongoing implementation) of practice or technology aimed at preparing farms for extreme weather conditions.
$10,000
Investment
Description:
AgriInvest is one of the business risk management programs the Sustainable Canadian Agricultural Partnership (Sustainable CAP).
AgriInvest is a self-managed producer-government savings account designed to help you manage small income declines and make investments to manage risk and improve market income.
Manitoba Equity Investment Programs Currently Available:
Equity investment, the LESSER of three thresholds, by stream and type: Television stream (each: up to 10% of the total production budget, or up to 15% of Manitoba expenditures, if lower): – Scripted, fictional series or mini-series (drama or comedy): up to $500,000 – Scripted, fictional MOW or pilot (drama or comedy): up to $165,000 – Documentary and variety series and mini-series: up to $125,000 – Documentary and variety one-offs and non-scripted pilots: up to $50,000 Web-based stream (each: or up to 30% of Manitoba expenditures, if lower): – Scripted, fictional series or mini-series: up to $100,000 or $500 per broadcast minute – Scripted, fictional one-off, including pilot: up to $35,000 or $500 per broadcast minute – Documentary and variety series and mini-series: up to $25,000 or $500 per broadcast minute – Documentary and variety one-offs: up to $12,500 or 15% of the total production budget Calculated on the cash portion of the budget only.
Investment
Description:
This program is designed to support the production of television and web-based projects that have an acceptable market trigger for broadcast or distribution and sufficient third-party financing to complete the project.
Scripted fictional feature film: the lesser of up to $400,000, up to 10% of the total production budget, or up to 15% of the Manitoba expenditures; Feature-length documentary: the lesser of up to $200,000, up to 10% of the total production budget, or up to 15% of the Manitoba expenditures
Investment
Description:
This program assists in the production financing of fully developed feature film projects through equity investments. Movies for television are not eligible.
Newfoundland & Labrador Equity Investment Programs Currently Available:
No fixed amount
Loan, Investment
Description:
The Investment Attraction Fund (“Fund”) is designed to attract large-scale businesses and foreign direct investment (“FDI”) to the Province of Newfoundland and Labrador (“the province”). It provides customized financial assistance to inward investors in support of establishing a business in the province or expanding a business as a result of FDI.
Up to 20% towards a production’s financial structure (recoupable investment; project’s local spend is a key criterion in determining the investment amount)
Investment
Description:
The PictureNL Equity Investment Program is available for eligible screen industry companies which are majority owned by a resident of Newfoundland and Labrador. The program may provide up to 20% towards a production’s financial structure but normally the project’s local spend is a key criterion, among other factors, in determining an investment amount.
Nova Scotia Equity Investment Programs Currently Available:
No fixed amount
Investment
Description:
We work to find, fund, and foster innovative Nova Scotia start-ups that strive to change the world. Our goal is to help those start-ups commercialize their technologies and succeed in the global marketplace.
Through the Nova Scotia First Fund we invest directly in emerging technology companies with high growth potential, and as a limited partner in venture capital funds that invest in Nova Scotia start-ups.
A minimum of $100,000 up to $1 million, through loans, lines of credit, community bonds, equipment leases, loan guarantees and equity investment
Investment, Loan, Loan Guarantee
Description:
HCi3 invests in low-carbon solutions that will reduce greenhouse gas emissions, support a just transition and positively impact communities. We support scalable and innovative approaches located in Halifax/Kjipuktuk or that directly benefit this region.
No fixed amount
Investment
Description:
Invest Nova Scotia partners with venture capital funds that invest in innovative, high-growth Nova Scotia start-ups, ensuring companies have access to the funding they need to scale and thrive in Nova Scotia.
Free membership (costs nothing to join) giving in-kind benefits: a business listing on Discover Halifax’s visitor website, rights-free photos and videos, booking reports, newsletters and member-only advertising opportunities. Provincial Affiliates outside HRM pay an annual fee of $400.
In-Kind Support
Description:
Welcome to the Member Resource Centre! Here you’ll find everything you need to make the most of your Discover Halifax membership.
Membership is open to all tourism and hospitality-related businesses, as well as individuals who wish to remain connected with the leisure or business market.
Ontario Equity Investment Programs Currently Available:
Average cheque size of C$500K, with earliest first cheques starting at C$50K through our Sparks program
Investment
Description:
Our approach to supporting breakthrough Canadian technology companies begins with deep alignment with visionary founders. In addition to capital, we provide portfolio companies with the resources, expertise and networks needed to validate ideas and bring products and services to market.
A six-week bootcamp, seven months of catered support from advisors, a coach, and a ghost board, and a pitch competition for a prize from a total of $300,000 in equity-based investment from 30 women angels
Investment, Accelerator, Competition
Description:
SheBoot is tackling the funding gap facing women entrepreneurs in tech by preparing them to pitch their business and secure investment.
Designed and delivered by women investors and entrepreneurs for women founders, our program equips you with the skills and legal, financial, and go-to-market know-how to pitch your business and secure investment.
$250,000
Investment
Description:
Ready 4 Market (R4M) is Ontario’s leading pre-seed investment fund. Through the fund, OCI co-invests with angel and other investors in early-stage Ontario-based start-ups with competitive IP commercializing transformative technologies to support their growth into scalable businesses. R4M is a competitive co-investment fund, with hundreds of companies considered for funding closing around 20 investments each year.
Up to $500,000 in early stage risk capital per eligible company, co-invested by OCI with angel and other investors
Investment
Description:
Ontario’s Life Sciences Innovation Fund (LSIF) is an early-stage co-investment fund that supports companies in Life Sciences and Healthcare Technologies sectors related to human health.
Through the fund, OCI co-invests with angel and other investors to help de-risk the opportunity, assisting start-ups in becoming investor and customer ready and allowing them to attract follow-on investment.
No specific amount specified
In-Kind Support
Description:
IO ScaleUp is for high-growth firms in Ottawa. You have reached $2 million in revenue or capital, and are on the path to attaining $100 million.
Through IO ScaleUp, you have access to elite advisors, a network of vertical-specific peer groups, top-calibre talent services, customized market research and other tailored growth resources.
No specific amount specified
In-Kind Support
Description:
Unlock expert advice and services
From pioneering developments in computer and electronics product manufacturing to breaking new ground in artificial intelligence and leading the charge in cleantech innovation, Ontario offers a wealth of opportunities for businesses looking to harness the power of technology for growth and sustainability.
No specific amount specified
In-Kind Support
Description:
Unlock expert advice and services
Discover abundant opportunities in Ontario, where companies can access some of the world’s most mineral-rich deposits.
Whether you’re exploring, financing, or part of the mining supply and services sector, Ontario offers a wealth of potential for your investment endeavors.
No specific amount specified
In-Kind Support
Description:
Unlock expert advice and services
Ontario’s life sciences sector offers unparalleled opportunities for companies changing the face of healthcare.
No specific amount specified
In-Kind Support
Description:
Unlock expert advice and services
Explore Ontario’s forestry sector, where economic prosperity intersects with environmental stewardship.
No specific amount specified
In-Kind Support
Description:
Unlock expert advice and services
Explore growth opportunities in Ontario’s dynamic agri-food sector, a significant player in North America. With a strong presence in annual sales and a multitude of business locations, Ontario offers a diverse landscape for food and beverage manufacturers.
No specific amount specified
In-Kind Support
Description:
Experience innovation in Ontario’s manufacturing sector. Join a vibrant community of industry leaders who are charting the future of production in Ontario. Here, you will find access to state-of-the-art technologies and tailored support, all designed to help your business thrive.
No fixed amount
Grant
Description:
The Grid Innovation Fund (GIF) advances innovative opportunities to achieve electricity bill savings for Ontario ratepayers by funding projects that either enable customers to better manage their energy consumption or that reduce the costs associated with maintaining reliable operation of the province’s grid. The GIF makes investments in specific projects – not companies – with clear objectives. It supports projects that validate the performance and business case of promising new technologies, practices, and services.
No specific amount specified
In-Kind Support
Description:
The Green Market Acceleration Program (GMAP) helps Toronto-focused innovators accelerate the development and commercialization of early- to mid-stage green technologies by enabling controlled access to City of Toronto assets – including infrastructure, streets, buildings, water systems, vehicles and more – for applied research, proof of concept and demonstration pilots.
GMAP is not a grant or procurement program. It is a structured pilot and demonstration pathway designed to de‑risk innovation, generate evidence and help companies attract customers, partners and investment.
PEI Equity Investment Programs Currently Available:
Up to $25,000 to each successful applicant; a matching contribution is not required
Grant, Investment, Competition
Description:
The Ignition Fund is a competitive-based fund for entrepreneurs seeking startup capital for a new innovative business venture or to develop and launch a new innovative product. The fund invests seed capital that will allow successful applicants to turn their ideas into a tangible and viable business.
Quebec Equity Investment Programs Currently Available:
Saskatchewan Equity Investment Programs Currently Available:
Equity investment in support of eligible productions to a maximum of 20% of the approved cash budget
Investment
Description:
The Creative Saskatchewan SaskTel Max Equity Fund provides financial support to eligible Saskatchewan-based independent producers of audiovisual productions. Creative Saskatchewan may invest in eligible projects that demonstrate significant economic, cultural and employment benefit to the Saskatchewan industry, and a high potential of recoupment and profit in the application.
No fixed amount
Investment
Description:
A pool fund LSVCC is an investment corporation that can issue shares to Saskatchewan residents. The funds are open to any Saskatchewan resident wanting to invest in a broad base of Saskatchewan sectors and businesses. In turn, Saskatchewan businesses can apply to access this venture capital to assist with startup or expansion.
Yukon Equity Investment Programs Currently Available:
No specific amount specified
In-Kind Support
Description:
An agriculture spot land application is where you identify the parcel of land you wish to use for agriculture. Spot land applications are for soil-based activities (example: hay crop, market garden). The land must:
A Grazing Agreement giving grazing rights on public land, for a term of up to 27 years following a 3-year probationary period; no land title; the holder pays an annual administration fee of $50.00 plus GST and an annual grazing fee of $3 plus GST per animal unit month
In-Kind Support
Description:
Grazing agreements provide access to public land with enough feed for livestock. They do not provide title to the property. Using land for grazing must not hinder other uses.
No specific amount specified
In-Kind Support
Description:
We make undeveloped land available for farming through our Agriculture Planned Land program. We:
identify lands for agriculture development;
complete the Yukon Environmental and Socio-economic Board assessment; and
prepare the lots for sale, for example, construct access roads and complete survey work.
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Maurice
