Departments, Portfolios and Affiliates

Metis Economic Development Fund

MEDF Board
Chair: Bob Penwarden
Vice-Chair: Wayne Rivers
Secretary/Treasurer: Arnold Asham
Director: Sean McCormick
Board Member: Mike Bettens

John Coutris, Chief Executive Officer
Erica McDonald, Office Manager
Carly Souque, Business Development Manager

MMF Ex Officio:
Leah LaPlante, MMF Minister of Economic Development

The Metis Economic Development Fund (MEDF) stimulates the economic development of Manitoba Metis businesses & entrepreneurs by providing equity and/or debt financing creating equity partnerships. MEDF concentrates on businesses and entrepreneurs which are in growth, expansion, or acquisition phases. The Fund may also invest in start-up ventures when the viability of the business outweighs the increased investment risk.

MEDF pursues the following objectives in the course of achieving our mission:

  • Providing equity for Metis entrepreneurs and businesses
  • Promoting and encouraging trade and commerce for Metis entrepreneurs and business
  • Facilitating and promoting the Metis business community
  • Maintaining liaison between the Metis business community and Government agencies and representatives at Municipal, Provincial and Federal levels
  • Support and encourage Metis community economic development initiatives

Investment Criteria
Corporations funded under this program must:

  • Be owned and controlled by individuals who reside in Manitoba with Metis ancestry proven through genealogy.
  • Have an experienced, well-balanced management team.
  • Submit a comprehensive business plan outlining the product and service offering, with a well-defined market with growth potential and a clearly defined exit strategy.
  • Be economically viable and able to provide a positive return on investment to the Metis entrepreneur, communities and the Fund (non-profit businesses will not be considered).

Nature of Funding
Financing is available up to $500,000 with an anticipated holding period between 3 to 7 years (up to 10 years) and a maximum ownership of 35% of the fair value of the corporation. A variety of financing instruments could be utilized and tailored to meet the specific needs of each opportunity.

Key Industries: life sciences, information and communications technologies, energy and clean technologies, wholesale and distribution, advanced manufacturing, mining and natural resources, other as agreed to by MEDF.

Forms of Financing
MEDF invests capital in the form of equity and/or quasi-equity to Manitoba Metis businesses. The Funds investment and ownership is formalized through the following financial instrument(s):

Common and/or preferred shares, convertible preferred shares, convertible debentures, subordinate debt, and/or other as agreed to by MEDF.

The Fund is accepting applications from Metis entrepreneurs and businesses.

MEDF now offers micro-investment for smaller opportunities (investment range $20,000-$100,000):

  • Metis entrepreneur cash equity minimum 10% of project;
  • Maximum MEDF ownership 40% of project;
  • Business plan highlighting how project will be funded, clearly identifying opportunity for growth/profitability, and how/when MEDF investment would be exited;
  • Metis Entrepreneur Manitoba residency and heritage confirmed through genealogy or valid MMF citizen card;
  • Be accepted as a client in a mentorship/entrepreneurship program acceptable to MEDF such as: Northforge, Manitoba Technology Accelerator, or like organizations;

We want to hear from you! Call us today at (204) 589-0772 ext. 248 or toll free at 1 (800) 387-6004 and take advantage of the funding opportunities available to you, the Metis entrepreneur. Check us out online and join one of our social networking sites. While there, ensure to subscribe to our mailing list to receive all the upcoming exciting news & events taking place. Metis Business Directory

All specific MEDF inquiries should be directed as follows:

Phone: 204-589-0772 ext. 248
Toll Free: 1-800-387-6004

Metis Economic Development Fund
340-150 Henry Avenue
Winnipeg MB R3B 0J7
Fax: 204-589-0791

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