Minister highlights the launch of Venture Newfoundland and Labrador III

    Friday, 13 March 2026 06:00

    By Tonya Organ

    Over the past 11 years, the company has helped local tech companies – attract $348 million from other investors, creating hundreds of jobs, and building a portfolio of shares in companies worth $1.59 billion. 

    On Wednesday night, Jobs, Growth and Rural Development Minister Lin Paddock met with founders, investors and partners to celebrate the launch of Venture Newfoundland and Labrador III. Government invested $15 million in the first VNL fund with Pelorus. Over the past 11 years, the company has helped local tech companies – attract $348 million from other investors, creating hundreds of jobs, and building a portfolio of shares in companies worth $1.59 billion.  This success is being felt in communities throughout the province – from Appleton and Bay Roberts to Labrador City, Pasadena and Port Rexton, as well as on the Avalon Peninsula. 

     

    To report an error, submit a news tip, or provide feedback, please e-mail news@bayfm.ca or call (709) 637-0183.

    More from Local News

     

     

     

    BayFM recognizes support from the following agencies:

                        

    Today's Weather

    • Corner Brook

      Heavy Rain

      High: 9°C | Low: 4°C

    • Deer Lake

      Heavy Rain

      High: 8°C | Low: 3°C

    • Stephenville

      Heavy Rain

      High: 8°C | Low: 7°C

    Recently Played

    Podcasts