iNovia Capital has announced officially the launch of a new fund, iNovia II, a $107 million seed and early stage venture capital fund. The new fund is targeted at information technology, life sciences and cleantech emerging companies, based in Canada, and also the US.
The fund was gathered from institutional investors, labor funds, government agencies: Consensus Business Group, Caisse de dépôt et placement du Québec, FIER, BDC Capital, AVAC Ltd., Solidarity Fund QFL, Export Development Canada (EDC), Fondaction, McGill University’s Endowment fund, the University of Alberta, Université de Sherbrooke, Bishop’s University Foundation CSN, Gestion Univalor L.P. and Telesystem Ltd.
As you can see, iNovia Capital is also one of the rare VC fund in Canada to work closely with universities.
iNovia Capital also announced Shawn Abbott as a new partner to help them manage the fund. He has a technology entrepreneur background, having started previously two successful technology companies.
We had the pleasure of working with them for Blitzweekend; and found them open to work on new innovative events, even if it was very risky at the time. Blitzweekend was a large success, and I hope they will continue to work with new entrepreneurs.
Congratulations to iNovia! Looking forward to see what companies they will work with.
