Key Takeaways
- • Genesys Capital announced the second close of the Genesys University Seed Fund, adding Sunnybrook Health Sciences Centre and University Health Network (UHN) as hospital partners, according to a Business Wire release dated October 13, 2026.
- • The fund builds on a first close that included the University of Toronto, McMaster University, Venture Ontario, the Temerty Group and RBC.
- • The fund invests in pre-seed and seed rounds for life science companies emerging from Canadian universities and hospitals, targeting the shortage of early-stage capital between lab discovery and clinical care.
- • Sunnybrook reports more than 400 scientists and clinician-scientists conducting over $170 million in research annually; UHN reports $688 million in annual research funding and 1,250 principal investigators.
- • The release does not disclose the fund's target size or the amount raised at the second close.
Summary
Genesys Capital, one of Canada's leading life sciences venture capital firms, announced the second close of the Genesys University Seed Fund, welcoming Sunnybrook Health Sciences Centre and University Health Network (UHN) as hospital partners. The release, distributed by Business Wire, does not disclose the fund's target size or the capital committed at this close.
The addition of the two hospitals builds on a first close that included the University of Toronto, McMaster University, Venture Ontario, the Temerty Group and RBC. The fund is designed to seed early-stage life sciences companies emerging from Canadian universities, hospitals and research institutes. It invests in pre-seed and seed rounds, positioning itself to address what Genesys describes as a persistent shortage of early-stage capital that prevents promising health and life science discoveries from moving out of the lab and into clinical care.
Kelly Holman, co-founder and managing director of Genesys Capital, said the first close demonstrated appetite for early-stage commercialization. Kevin Smith, President and CEO of UHN, said Canada's challenge is translating scientific excellence into patient impact and economic growth at scale, noting that companies and economic benefits from Canadian discoveries have too often grown elsewhere. Dr. Andy Smith, President and CEO of Sunnybrook Health Sciences Centre, said many promising innovations lack early-stage capital to advance. U of T President Melanie A. Woodin welcomed the hospitals, citing their role in the Toronto Academic Health Science Network (TAHSN).
The release cites UHN as Canada's leading research hospital and one of the top 20 research commercialization hospitals in North America, with 1,250 principal investigators, 5,100 research staff and trainees, and $688 million in annual research funding. UHN Commercialization has helped launch 20 financed life sciences companies, including BlueRock Therapeutics, Trillium Therapeutics and AVROBIO, and UHN-incubated ventures have raised more than $1.76 billion in financing since 2018. Sunnybrook reports more than 400 scientists and clinician-scientists conducting over $170 million in research each year.
The University of Toronto, per the release, has created more than 1,800 venture-backed startups over the past five years that have raised over $27 billion, and its Health Innovation Hub includes more than 340 active ventures. Genesys Capital states it has more than $400 million invested over the past 25 years across biotechnology, pharmaceuticals and medical technology, and has supported 20 exits as a founding investor.
The addition of the two hospitals builds on a first close that included the University of Toronto, McMaster University, Venture Ontario, the Temerty Group and RBC. The fund is designed to seed early-stage life sciences companies emerging from Canadian universities, hospitals and research institutes. It invests in pre-seed and seed rounds, positioning itself to address what Genesys describes as a persistent shortage of early-stage capital that prevents promising health and life science discoveries from moving out of the lab and into clinical care.
Kelly Holman, co-founder and managing director of Genesys Capital, said the first close demonstrated appetite for early-stage commercialization. Kevin Smith, President and CEO of UHN, said Canada's challenge is translating scientific excellence into patient impact and economic growth at scale, noting that companies and economic benefits from Canadian discoveries have too often grown elsewhere. Dr. Andy Smith, President and CEO of Sunnybrook Health Sciences Centre, said many promising innovations lack early-stage capital to advance. U of T President Melanie A. Woodin welcomed the hospitals, citing their role in the Toronto Academic Health Science Network (TAHSN).
The release cites UHN as Canada's leading research hospital and one of the top 20 research commercialization hospitals in North America, with 1,250 principal investigators, 5,100 research staff and trainees, and $688 million in annual research funding. UHN Commercialization has helped launch 20 financed life sciences companies, including BlueRock Therapeutics, Trillium Therapeutics and AVROBIO, and UHN-incubated ventures have raised more than $1.76 billion in financing since 2018. Sunnybrook reports more than 400 scientists and clinician-scientists conducting over $170 million in research each year.
The University of Toronto, per the release, has created more than 1,800 venture-backed startups over the past five years that have raised over $27 billion, and its Health Innovation Hub includes more than 340 active ventures. Genesys Capital states it has more than $400 million invested over the past 25 years across biotechnology, pharmaceuticals and medical technology, and has supported 20 exits as a founding investor.
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