Montreal Tech Watch

Great news for iNovia Capital, and for all the partners (Chris Arsenault, John Elton, and many more), iNovia Capital has announced a few minutes ago a new VC fund called iNovia III, with funds coming from Teralys Capital, BDC, , AVAC Ltd., Alberta Enterprise, the B.C. Renaissance Capital Fund, and existing iNovia general partners.

John Elton sums it well on the iNovia site:

• 30+ portfolio companies generating over $300M in aggregate revenue

• 2 of our portfolio companies will do over $100M in revenue this year, with several more on a revenue run rate of over $10M, plus a number of earlier stage investments that are growing at extraordinary rates.

• 600 full-time employees across all of our portfolio companies

• 2 exits in past year, OggiFinogi and Babble, providing attractive returns

• 1 of the most valuable Internet startups in the world – Collective

• $37M funding in BeyondTheRack that reaffirmed our commitment to eCommerce (further building on our investment in  Well.ca)

• $23M financing from a world class syndicate of investors in Fixmo (a company we seeded)

• 2 gaming companies continued their rapid growth, with Gamerizon (16 million downloads) raising $5M and Woozworld (16 millions virtual spaces created) raising $6M.

• 1st Y Combinator alumnus company, Vidyard – an investment that also fits perfectly alongside AppDirect in our belief around the consumerization of enterprise applications.

• 7 co-investments with Greycroft Partners, 3 each with Rho Canada, Panorama Capital and Metamorphic Ventures and 2 with Accel Partners.

• 6 investments with seed funds Real Ventures and Extreme VP and helping to launch Growlab with amazing partners and co-investors.

This is a great time to be an entrepreneur in Montreal and in Canada. And to join the VCs as well: iNovia is hiring now an associate. If you haven’t applied yet, do it now!

Congrats to the whole iNovia team, great work!