About SaskWorks
Investing in Saskatchewan’s Future
Founded in 2001, the SaskWorks Venture Fund was established to provide long-term growth capital to Saskatchewan-based businesses. Structured as a Labour-Sponsored Investment Fund, capital is pooled from individual investors and deployed back into the province through a professionally managed portfolio of assets. The Fund is available exclusively to residents of Saskatchewan.
32.5% Tax Credit
Under Saskatchewan’s Labour-Sponsored Venture Capital Corporation (LSVCC) Act and the Income Tax Act (Canada), investments of up to $5,000 are eligible to receive a 17.5% Provincial and a 15% Federal tax credit.
Your Investment
$5,000
Provincial Tax Credit (17.5%)
$875
Federal Tax Credit (15%)
$750
RRSP Tax Deferral* (33%)
$1,650
Net Cash Outlay After Tax Savings
$1,725
*Assumes a $5,000 investment by an investor in a marginal tax bracket of 33% ($55,867-$111,733).
Access to Saskatchewan-Based Private Companies
Through SaskWorks, your capital is invested directly into privately held small and medium-sized SK businesses. These investments support companies at key stages of growth, helping them scale operations and execute long-term strategies. In doing so, SaskWorks supports job creation, advances economic growth, and helps keep investment capital working within our provincial economy.
Investor’s Choice
The Fund is divided into two share classes, Diversified (Class A) and Resources (Class R). Investors may invest entirely in one share class or allocate their investment between both in any proportion.
RRSP-Eligible
SaskWorks contributions may be held in an RRSP, spousal RRSP, or LIRA account and are eligible to receive an RSP tax deferral equal to the shareholder’s marginal tax bracket.
Please note: registered contributions that have not reached maturity by a shareholder’s 71st birthday must be transferred to a RRIF account and will be subject to mandatory withdrawals. Please discuss the implications of a RRIF transfer with your investment advisor.
Alternatively, a shareholder may choose to hold their investment in a non-registered account.
Add SaskWorks to Your Portfolio
Shares of SaskWorks Venture Fund may be purchased through your Investment Advisor or self-directed investing account. Speak with your advisor about investing in SaskWorks. If you do not currently work with an advisor, please contact the Fund for assistance in locating one in your area.
Lump Sum Contribution
SaskWorks accepts lump sum contributions of $500 or more. Tax credits apply to contributions of up to $5,000 per year and cannot be carried forward. Contributions made in the first 60 days (“RRSP season”) may be applied to the current or previous tax year.
Pre-Authorized Debit
The SaskWorks pre-authorized debit plan is a systematic investment strategy that allows you to choose your contribution amount and deduction frequency, with funds automatically withdrawn from your chequing account on a regular basis. Once set up, contributions are automatic and flexible—you may pause or cancel at any time.
Payroll Investment Plan
The SaskWorks Payroll Investment Plan (PIP) is a systematic contribution strategy that allows you to invest in SaskWorks every payday through automatic payroll deductions. A pre-determined amount is deducted from each pay period and redirected to your investment. The tax credit and RRSP deferrals are received every payday, resulting in a lower initial out-of-pocket cost for participants.
Mission
We seek to be the pre-eminent private sector Labour-Sponsored Venture Capital organization in Saskatchewan by:
- Providing competitive financial returns for shareholders through investments in small-and medium-sized Saskatchewan businesses
- Making capital available to Saskatchewan businesses that can be used to implement business plans and support ongoing growth strategies
- Building and sustaining a local source of capital in Saskatchewan
Vision
For Our Shareholders and Their Investment
- To provide competitive financial returns to shareholders
- To provide shareholders with access to SK-based, private companies that they otherwise would not have access to
- To grow our capital base, from all sources, at a pace which assures that we remain the primary source of venture capital in Saskatchewan
- To maintain regular, high-quality communication with our shareholders and distributors
For Our Labour Sponsors
- To educate labour leaders and members on the key strategic initiatives undertaken
- To provide interested members from the labour movement with the opportunity to invest in the Fund, either on a lump sum or pre-authorized debit plan basis or via the Fund’s Payroll Investment Plan
For Our Investments
- To generate returns which maintain our performance among the best of labour-sponsored investment funds.
- To include “best of sector” companies within our portfolio, and to encourage all portfolio companies to strive to be “best of sector” on both financial and non-financial dimensions
- To be among the national leaders in returns and job creation per dollar invested in the Canadian venture capital industry.
- To be seen as a leader in providing additional value-added services and opportunities to investee companies, in addition to capital
For Our Own Workplace
- To model high-quality workplace practices
- To be entrepreneurial and innovative in all aspects of our operation
- To create high-quality jobs for employees which provide opportunities for career development and job enrichment, provide flexibility in balancing work and family needs, seek to create the highest possible level of “self-management” in jobs within an effective management structure and create an expectation in employees to share responsibility, be accountable and positively support organizational goals.
- To develop human capital with the highest level of integrity in the private equity/venture capital industry.
Questions about SaskWorks?
Find answers to common questions or contact our team for further assistance.