# New Brunswick Innovation Foundation

New Brunswick Innovation Foundation is a Private Equity based in Fredericton, Canada.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Fredericton, Canada
- **Region:** North America
- **Address:** Fredericton, New Brunswick, Canada
- **Founded:** 2002
- **Assets under management:** Undisclosed
- **Website:** www.nbif.ca
- **LinkedIn:** https://www.linkedin.com/company/nbif

## Regulatory record

- **Reports private funds:** No

## About

Canada’s longest-running publicly funded venture capital firm for ambitious founders building global tech companies. It provides founder-first venture capital for tech startups, investing early and staying committed for the long term. It works alongside founders to help turn strong ideas into scalable, high-growth businesses built from New Brunswick.

## Sectors

- Cybersecurity
- ClimateTech
- Enterprise Software
- AgriTech & FoodTech
- AI/ML
- Industrial Tech
- Mobility & Transportation
- Energy Transition & Renewables

## People

- Jeff White — Staff (per firm website, 2026)
- Leslie Watchorn Magee — Board of Directors (per firm website, 2026)
- Tony Van Bommel — Board of Directors (per firm website, 2026)

## Questions

### Does NBIF participate in fund commitments or only direct deals?

NBIF operates a hybrid model. Its Venture Capital Fund and Start-up Investment Fund write direct equity cheques into New Brunswick technology companies. It simultaneously maintains a fund-of-funds strategy, making limited partner commitments to external venture funds that provide an indirect channel to diversified startup exposure. The Innovation Voucher Fund extends non-dilutive capital to traditional SMEs, an activity outside the typical venture mandate.

### What investment stages does NBIF typically target?

NBIF explicitly describes itself as an 'evergreen pre-seed and seed stage venture capital organization' on its website. The Start-up Investment Fund provides the earliest equity, while the Venture Capital Fund extends into early-stage growth rounds and companies expanding into new markets. The Climate Impact Fund also targets early-stage disruptive technologies. Later-stage follow-on capital is not a stated focus.

### Which sectors does New Brunswick Innovation Foundation explicitly avoid?

NBIF does not publish a formal exclusion list, but its portfolio as of 2026 shows no exposure to financial services, defence, adult-use cannabis, mining, or consumer packaged goods unrelated to technology. The foundation's website emphasizes cybersecurity, AI, industrial technology, agri-food, climate technology, and enterprise software. The Innovation Voucher Fund extends the economic development mandate into non-tech SMEs, but this is a grant-style program rather than an equity investment.

### Where does NBIF's capital come from?

NBIF was capitalized with a C$100 million fund by the Province of New Brunswick. The foundation describes itself as an independent, not-for-profit organization, with governance provided by a board of directors that includes government and private-sector representatives. Returns from successful exits are recycled back into the fund — the organization claims 17 exits have generated 'hundreds of millions' reinvested into the provincial economy. It does not disclose external limited partners.

## Related profiles

- [Newbridge Wealth Management](https://altss.com/profile/newbridge-wealth-management)
- [NewBuild Venture Capital](https://altss.com/profile/newbuild-venture-capital)

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Last updated: 2026-08-11T15:07:34.613Z

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