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Information Venture Partners closes third fund, raising $124 million CAD Toronto-based venture capital firm Information Venture Partners (Information VP) has closed its third venture fund, securing around $124 million CAD ($101 million USD). Information VP’s Fund III has been backed by a group of limited partners that have invested in its firm since its inception. Information VP did not disclose the names of its LPs. The firm noted the fund’s financiers also include “the five largest institutional fund of fund investors that support the Canadian venture capital ecosystem,” four of Canada’s six largest banks, other large financial institutions and insurers, and “executives from leading fintech companies.” ....
7 things startups should know about selling to banks Startups feed on sales, but selling into banks and financial institutions is a different story. The process could take months, if not years, with many hoops to jump through, including procurement, compliance, multiple stakeholders, and organizational changes. Surviving this gauntlet requires a targeted approach grounded in real business needs. In a recent webinar, Paul McKinlay, Managing Director of Innovation Banking at CIBC; Keith Gordon, Chief Security Officer of CIBC; Tom Mildenhall, Global Head of Technology Business Development at Bank of America; and Corey Gross, founder and CEO of Sensibill, shared the seven things startup sales leaders need to know about selling to banks. ....
Federal government looks to prop up Toronto tech ecosystem with $14.6 million in loans for six companies Six tech companies based in Toronto are receiving a cumulative $14.6 million in loans from the federal government. The loans are being made out through FedDev Ontario, the regional development agency for Southern Ontario. An announcement from FedDev Ontario said the agency is looking to strengthen Toronto as a key technology sector through these loans, as well as create the right conditions for growth in the post-pandemic economy. Over the last few years, Toronto’s tech ecosystem has gained international repute, and in 2019 and 2020 was ranked by the CBRE as one of the top technology markets in North America, and the fastest-growing. ....
Ottawa’s Mistral raising nearly $50-million fund to capitalize on post-COVID opportunities Bookmark Please log in to listen to this story. Also available in French and Mandarin. Log In Create Free Account Getting audio file . This translation has been automatically generated and has not been verified for accuracy. Full Disclaimer One of Canada’s few prominent “seed-stage” technology venture capital firms, Ottawa’s Mistral Venture Partners, is closing in on its goal of raising $50-million for its third fund to back startups hoping to reshape the postpandemic economy. Mistral, led by veteran venture capitalist Code Cubitt, was set to start raising the fund last March, but delayed plans as the pandemic took hold. However, Mr. Cubitt said he went back out two months later at the behest of his anchor investor, Business Development Bank of Canada. So far, Mistral has raised $41-million for the fund – including backing from BDC and fund-of-funds ....