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Ontario Gets New Fund to Back University Life Sciences Spinouts

The fund has already raised more than half its target and will support medical devices and drugs for cancer and heart and brain diseases.

Summary by BetaKit
Ontario has gained a new early-stage, life sciences venture capital (VC) fund. The news: The University of Toronto (U of T), Hamilton’s McMaster University, and the Ontario government have teamed up to finance a new fund focused on seed-stage life sciences spinouts tied to both schools and partner hospitals. The group announced on Wednesday that the Genesys University Seed Fund has already secured a first close of more than $30 million CAD from …

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The Globe & Mail broke the news in Canada on Wednesday, July 8, 2026.
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