The University of British Columbia (UBC) and provincial government-backed InBC Investment Corp. have teamed up to establish a new fund for British Columbia (BC) startups.
The UBC Catalyst Ventures Fund will back innovative spinouts created from licensed UBC research discoveries, as well as businesses established by UBC faculty, staff, students, and recent graduates.
InBC and UBC have committed $10 million CAD apiece to the fund, which they announced on Monday from Aspect Biosystemsâ office. The two organizations hope to raise up to an additional $20 million CAD from private investors, for a potential total fund size of $40 million.
Thomas Park, InBC
âWe teamed up with UBC because the research strength is worldâclass and the spinâout track record is real.”
âWe teamed up with UBC because the research strength is worldâclass and the spinâout track record is real,â InBC chief investment officer Thomas Park told BetaKit in an email. âWeâre doing it now because capital is more competitive, and by bringing public and private dollars together at a meaningful scale, we can build one of the largest university commercialization funds in Canada.
Park said the fund is in the process of hiring a new lead investor. He said it will invest from company creation to later-stage, but focus mostly on early-stage companies.
UBC and InBC expect the UBC Catalyst Ventures Fund to help turn ideas into new products, services, and treatments that provide economic, social, and environmental benefits for BC, including job opportunities.
To date, the Government of BC says discoveries by UBC researchers have formed the basis of more than 280 spinoffs, generated an estimated $13 billion in sales, and become major contributors to job creation in BCâs innovation economy. Some examples of successful UBC spinouts include AbCellera, Xenon Pharmaceuticals, and Aspect Biosystems.
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This fund will make initial investments in life sciences and deep technology companies, two areas of strength for BC. By supporting commercialization in both areas, this funding is designed to advance two key priorities in the Government of BCâs recently unveiled 10-year Look West economic plan.
As part of that strategy, BC hopes to boost life sciencesâ economic impact in the province by 75 percent and double employment in the sector to 40,000. It also aims to grow the economic value of its tech sector by 75 percent while doubling local tech-sector employment to 400,000.
Since spinning out of UBC, Vancouver-based biotech company Aspect Biosystems has grown to a team of more than 130 employees and raised over $350 million USD to develop bioprinted human tissues designed to replace, repair, or supplement biological function.
Aspect founder and CEO Tamer Mohamed said during the announcement that this fund âcreates the conditions for other Aspects to existâ and stay in BC.
UPDATE (03/24/2026): This story has been updated with additional information about the Catalyst Ventures Fund’s leadership and investment strategy.