Genesys Capital has completed the second close of the Genesys University Seed Fund, adding Sunnybrook Health Sciences Centre and University Health Network as hospital partners to expand support for early-stage Canadian life sciences companies.
The new partners join the University of Toronto, McMaster University, Venture Ontario, the Temerty Group, and RBC, which participated in the fund’s first close. The fund is focused on pre-seed and seed investments in life sciences companies emerging from Canadian universities, hospitals, and research institutions.
Genesys created the fund to address a shortage of early-stage capital available to help health and life sciences discoveries progress from academic research into commercial development and clinical applications. The strategy provides risk capital to startups at stages where traditional financing can be difficult to secure.
The addition of Sunnybrook and UHN strengthens the fund’s connections to Toronto’s research and healthcare ecosystem. Both institutions collaborate with the University of Toronto through the Toronto Academic Health Science Network and contribute research, clinical expertise, and commercialization capabilities to the region’s life sciences sector.
University of Toronto entrepreneurs have created more than 1,800 venture-backed startups over the past five years, raising more than $27 billion and creating over 27,000 jobs. The university operates 13 accelerator hubs across three campuses, while its Health Innovation Hub includes more than 340 active ventures.
UHN operates Canada’s largest hospital-based research enterprise, with approximately 1,250 principal investigators, 5,100 research staff and trainees, and $688 million in annual research funding. Its commercialization organization has helped launch 20 financed life sciences companies, including BlueRock Therapeutics, Trillium Therapeutics, and AVROBIO.
Since 2018, UHN-incubated ventures have generated more than $5 billion in economic impact through six equity exits and have raised more than $1.76 billion in financing.
Sunnybrook has more than 400 scientists and clinician-scientists conducting over $170 million in research annually. Its participation in the fund is intended to create additional pathways for discoveries originating within its research community to attract early capital and move toward commercialization.
Genesys Capital has invested more than $400 million over the past 25 years across biotechnology, pharmaceuticals, and medical technology. The firm has served as a founding investor in companies that have produced 20 exits representing billions of dollars in value.
“Our first close proved that there is real appetite to support early-stage commercialization in an effort to build the next generation of Canadian life sciences companies. By partnering with Sunnybrook and UHN, we are deepening the connection between scientific discovery, clinical expertise and entrepreneurial talent. These institutions are home to some of Canada’s most innovative researchers and clinicians, and we are excited to help accelerate the development of technologies that have the potential to improve patient care and create economic value.”
Kelly Holman, Co-Founder And Managing Director Of Genesys Capital
“On behalf of the University of Toronto, I am pleased to welcome Sunnybrook and UHN to the Genesys University Seed Fund. Sunnybrook, UHN and U of T are academic and research partners through TAHSN, one of the most productive health sciences hubs in North America. These hospitals are critical to Canada’s innovation and entrepreneurship ecosystem and through this new partnership, we will further enable early-stage life sciences companies to advance our country’s world-class research, patient care and health economy.”
Melanie A. Woodin, President Of The University Of Toronto
“Canada’s challenge has never been scientific excellence. Our challenge has been translating that excellence into patient impact and economic growth at scale. For generations, Canadian researchers have produced discoveries that transformed healthcare around the world, yet too often the companies, investment and economic benefits that followed grew elsewhere. Initiatives like the Genesys University Seed Fund help create stronger pathways from discovery to commercialization, ensuring more Canadian-born innovations reach patients, grow into globally competitive companies and generate high-quality jobs, investment and long-term economic value here in Canada.”
Kevin Smith, President And CEO Of University Health Network
“At Sunnybrook, we’ve seen firsthand how world-class research can lead to technologies and companies that improve lives and strengthen Canada’s life sciences sector. We know there is tremendous potential within our research community, but too many promising innovations struggle to advance because they lack early-stage capital. That’s why Sunnybrook is proud to join partners including U of T, UHN and McMaster in supporting the next generation of Canadian innovation, helping promising discoveries move from the lab to market while strengthening Canada’s innovation economy.”
Dr. Andy Smith, President And CEO Of Sunnybrook Health Sciences Centre
