Key Takeaways
- • Lumira Ventures and the Terry Fox Foundation launched the Cancer Breakthrough Fund in April 2025, marking Canada's first philanthropic venture capital partnership designed to invest in oncology-focused companies delivering novel therapies.
- • The Terry Fox Foundation brings $950 million in historical fundraising and 1,300+ funded oncology projects to the collaboration, providing deep networks of cancer researchers and oncologists who will serve as key opinion leaders (KOLs) to vet investment opportunities.
- • The partnership model combines attractive financial returns for investors with mission-driven outcomes, positioning the Fund to deploy capital more effectively by leveraging research expertise across different cancer indications and treatment modalities.
- • Peter van der Velden, Managing General Partner at Lumira Ventures, emphasized that the collaboration enhances capital deployment precision by directing funding "to where it will have the greatest impact" through the integrated KOL network.
Summary
Lumira Ventures and the Terry Fox Foundation announced a landmark collaboration in April 2025, establishing the Cancer Breakthrough Fund as Canada's first philanthropic venture capital partnership. The initiative represents a novel institutional structure that merges traditional venture capital investment with philanthropic mission alignment, targeting companies developing innovative cancer therapies.
The Terry Fox Foundation brings substantial institutional credibility and research infrastructure to the partnership. Over decades of operations, the Foundation has raised more than $950 million and funded over 1,300 innovative oncology projects, establishing deep relationships with leading cancer researchers and oncologists across the country. Lumira Ventures contributes proven life sciences investment expertise and track record in building companies that deliver innovative therapeutic solutions across Canada.
The Fund's competitive advantage rests on leveraging the Foundation's extensive network of key opinion leaders (KOLs)—cancer researchers and oncologists—who will evaluate investment opportunities and guide capital allocation across different cancer indications and treatment modalities. According to Peter van der Velden, Managing General Partner at Lumira Ventures, this network-driven due diligence model improves the Fund's ability to identify promising opportunities while simultaneously strengthening Canada's life sciences ecosystem. The partnership structure explicitly targets mission-driven entrepreneurs, creating alignment between financial returns and measurable health outcomes for cancer patients globally.
This philanthropic venture capital model addresses dual institutional objectives: generating attractive investor returns while advancing scientific progress in oncology. By consolidating capital, expertise, and networks, the Cancer Breakthrough Fund positions itself to accelerate drug discovery and therapeutic development within Canada's life sciences sector.
The Terry Fox Foundation brings substantial institutional credibility and research infrastructure to the partnership. Over decades of operations, the Foundation has raised more than $950 million and funded over 1,300 innovative oncology projects, establishing deep relationships with leading cancer researchers and oncologists across the country. Lumira Ventures contributes proven life sciences investment expertise and track record in building companies that deliver innovative therapeutic solutions across Canada.
The Fund's competitive advantage rests on leveraging the Foundation's extensive network of key opinion leaders (KOLs)—cancer researchers and oncologists—who will evaluate investment opportunities and guide capital allocation across different cancer indications and treatment modalities. According to Peter van der Velden, Managing General Partner at Lumira Ventures, this network-driven due diligence model improves the Fund's ability to identify promising opportunities while simultaneously strengthening Canada's life sciences ecosystem. The partnership structure explicitly targets mission-driven entrepreneurs, creating alignment between financial returns and measurable health outcomes for cancer patients globally.
This philanthropic venture capital model addresses dual institutional objectives: generating attractive investor returns while advancing scientific progress in oncology. By consolidating capital, expertise, and networks, the Cancer Breakthrough Fund positions itself to accelerate drug discovery and therapeutic development within Canada's life sciences sector.
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