TORONTO, Jan. 25, 2022 /CNW/ - Today, Deloitte Canada announced the launch of its new venture capital initiative, Deloitte Ventures, designed to make minority investments in emerging technology companies. Created with a vision of accelerating Canada's innovative technology sector, the $150M CAD investment represents the largest capital commitment to date amongst Canadian professional services firms.
"Deloitte Ventures comes at a time when the pace of change is at an all-time high," said Anthony Viel, Chief Executive Officer, Deloitte Canada. "The COVID-19 pandemic accelerated the adoption of technology by both clients and competitors, and it's becoming increasingly clear that the old way of doing business is no longer relevant in the digital world. Deloitte Ventures is our commitment to stimulate Canada's economy through investing in emerging technology companies that can lead globally, which has the added benefit of keeping our clients and Canadian business ahead of the disruption curve."
Deloitte expects this initiative to catalyze the growth of important Canadian verticals such as financial technology, health & life sciences technology, consumer technology, cyber security, governance risk compliance, and sustainability and cleantech, among others. In doing so, Deloitte Ventures also expects to accelerate the adoption of technology advancements, such as artificial intelligence and machine learning, and explore other emerging technologies crucial to the future of Canada's economy and global competitiveness.
"Canada's technology sector is thriving, and we're seeing some incredible companies emerge," said Talia Abramowitz, Managing Partner, Deloitte Ventures. "Now is the time to supercharge our technology ecosystem by encouraging further growth, innovation, equity and inclusion. Through Ventures, we will take an active role in helping accelerate the trajectory of our portfolio companies, which really benefits the Canadian business landscape, and ultimately, Canada as a whole."
The Ventures initiative, developed in Deloitte Canada's Chief Strategy and Innovation Office (CSIO), led by Tim Christmann, will provide capital and capability to Canada's most promising entrepreneurs, spurring innovation, and confirming Canada as the best place to live and work. While not designed as an impact fund, we are seeing opportunities to invest in companies that move the needle on key matters such as DE&I, sustainability, reconciliation, and others, which provides another opportunity for Deloitte to 'make an impact that matters' in Canada as a purpose-led organization.
Deloitte provides audit and assurance, consulting, financial advisory, risk advisory, tax, and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights, and service to address clients' most complex business challenges. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
Our global Purpose is making an impact that matters. At Deloitte Canada, that translates into building a better future by accelerating and expanding access to knowledge. We believe we can achieve this Purpose by living our shared values to lead the way, serve with integrity, take care of each other, foster inclusion, and collaborate for measurable impact.
SOURCE Deloitte & Touche
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