Inovia Capital raises $450 million Growth Fund II to find another Lightspeed
Inovia Capital has raised $450 million USD for its second growth stage fund as the Montréal-based venture firm aims to build on its success with Lightspeed and create more Canadian unicorns.
The new fund exceeds Inovia’s target raise of $400 million and brings the firm’s total capital under management to more than $1.5 billion USD.
Growth Fund II comes a short two-years after Inovia raised its first growth fund of $400 million USD. That fund made significant investments in a number of companies, including Montréal-based Lightspeed.
“The growth fund benefits 100 percent from what we’ve built over the last decades.”
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Power’s Sagard Holdings launches Canadian private equity business
Power Corporation subsidiary Sagard Holdings has launched a new private equity (PE) business in Canada, the first foray for the firm into the PE space in Canada.
The new business unit, announced Monday, is being led by PE veteran Marie-Claude Boisvert, formerly of Clearspring Capital Partners. She is joined by Patrick Daignault as partner. Daignault previously served as senior director of PE at PSP Investments, based in Montreal, where he led several investments in business and financial services verticals.
With the launch of the new business line, Sagard is reportedly looking to raise around $400 million for an initial PE fund, according to The Globe and Mail. For investments, it is focusing on the middle market, companies with at least $10 million in annual profit. Sagard is using its own capital to launch the PE business, with plans for external fundraising efforts beginning in the middle of 20
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Increased capital deployment in renewable energy investments in 2020, combined with the subsector’s strong performance through the COVID-19 pandemic, has led to a significant uptick in the interest of infrastructure funds in optimising renewable energy asset performance. This is according to Clir, a provider of performance assessment software for renewable energy, which has announced the realisation of record project gains across its 8 GW portfolio of wind and solar assets in 3Q2020.
The infrastructure fund community has traditionally operated renewable energy investments remotely, relying on lagged asset management reporting to review the performance of their projects. More recently, as interest in the renewable energy sector has increased, a heightened focus on such technologies has encouraged fund managers to better understand primary asset level data and optimisation opportunities.
Tuesday, 15 December 2020 Renewable energy optimisation company Clir has driven performance increases amounting to 25 GWh in Q3 as interest surges among fund managers like Northleaf Capital Partners looking to realise gains across wind and solar investments
Increased capital deployment in renewable energy investments in 2020, combined with the subsector’s strong performance through the Covid-19 pandemic, has led to a significant uptick in the interest of infrastructure funds in optimising renewable energy asset performance, according to provider of performance assessment software Clir.
The company has just announced the realisation of record project gains across its 8 GW portfolio of wind and solar assets in the third quarter of 2020.
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