(Toronto – August 10, 2012) Métis entrepreneurs in Ontario will soon have a new financier of choice with the Métis Voyageur Development Fund (MVDF) commencing operations August 14.
The MVDF is an independent Métis owned and controlled agency that provides funding and support for resource or resource related sector Métis businesses. “Métis are one of the youngest and fastest growing demographic groups in Ontario,” explained the Honourable Paul DeVillers, PC, the Chair of the MVDF Board of Directors, “our fund is in a position to ensure that Métis people also play a growing role in the Ontario economy; something that will benefit all Ontario people.”
The MVDF has a commitment of $30 million over 10 years from the Ontario government. “The Ontario government is proud to support the Métis Voyageur Development Fund”, stated the Honourable Kathleen Wynne, Minister of Aboriginal Affairs for Ontario. “This fund will help Métis entrepreneurs and businesses in the resource sector start and expand their business. These investments will support economic growth for Métis families and communities, and Ontario’s economy.”
The MVDF to extend financing options available to Métis for resource projects in Ontario, making secured and mezzanine debt available to fund projects that support sustainable growth. The financing will either supplement existing debt from the financial sector or sit alongside the entrepreneur’s equity with the aim of allowing the development of sustainable projects that the financial markets might not finance at the required level. Investing through such a revolving fund instrument helps increase the impact and extend the availability of Ontario’s investment.
“We can help Métis people propel their businesses forward,” stated DeVillers, “because we are in a position to offer customized financing and on-going support that is designed to significantly increase their businesses chances of success and opportunities to grow.”
The MVDF’s formal launch will be at an event on August 14, 2012. The launch will be attended by the the Honourable Paul DeVillers, PC, the Chair of the MVDF Board of Directors, the Honourable Kathleen Wynne, Minister of Aboriginal Affairs for Ontario, as well as many private sector companies and Gary Lipinski, President of the Métis Nation of Ontario.