In 1995, Working Ventures was the second largest labour-sponsored fund as well as the second largest venture capital institution in Canada.

Goals of the fund

The mandate of Working Ventures is characterized by several key investment and related objectives. These are:

1. long-term market returns on its investment portfolio for shareholders;
2. participation of non-traditional Canadian investors, including CFL members;
3. increasing equity capital supply for small and medium-sized enterprises;
4. creation of new, high value-added job opportunities for Canadians;
5. encouragement of more progressive and co-operative industrial relations;
6. promotion of regional and community development;
7. a cross-country focus.

With regard to the latter aim, Working Ventures has developed a long-term strategy for entering all provinces to accumulate capital, invest, and eventually, to establish permanent divisional offices. This is in keeping with the belief of fund directors that a cost-efficient national infrastructure and diversified portfolio can best generate sustainable venture-backed activity outside of Canada's economic centre.

(ii) Decision-making structures

Federal legislation enabled the CFL to create and direct Working Ventures by the former holding sponsor shares (or Class B preferred shares) which, in turn, entitle it to nominate eleven members of the thirteen-member Board of Directors. The current nominees are the CFL President, six representatives of affiliated unions, the President of Working Ventures and three representatives of Canada's business constituency. Finally, two directors are elected by the fund's common shareholders at an annual general meeting.