Startup Cfo + Flow Sred Presentation 032409
View more presentations from Mark Macleod.
Thursday, March 26, 2009
Wednesday, March 25, 2009
The Guy Kawasaki Top 10 rules
Guy Kawasaki was back in Montreal today, speaker at the Capital Innovation 2009 conference. As usual, charming, friendly and very entertaining. Below is a summary of his learnings, shared in the form of a "Top 10 rules" for entrepreneurs:
1. Make meaning - the why!
2. Make Mantra - the what (in lieu of your mission statement)
3. Jump to the Next curve - do it 10 times better
4. Roll the dice - offer something w/depth, intelligence, complete, elegance, emotive
5. Don't worry - ship early, fix it later
6. Polarize people - some will like it other will hate it, that's good! no in-between
7. Let 100 flowers blossom - let people use you product as they feel fit
8. Churn baby churn - keep innovation coming... fast
9. Niche yourself - unique and valuable
10. Follow 10 20 30 rule - 10 slides... 20 minutes presentation... Use 30 points fonts in your power point
11. Don't let the Bozo grind you down! - too often the successful entrepreneurs is too deep in his expertise to see or even understand the next wave, or was part of the 50% that were Lucky! Not smart.
Of course, most points are all obvious rules, especially w/20-20 hindsight, but I must admit that it was very pleasant to hear guy's examples and views.
P.S Guy still feels bad for not investing in the "save bubba" business, focused on saving drowning people w/a red tape bracelet (which is actually a very successful business today!). But clearly it doesn't beat his decision not to take up the CEO position at Yahoo back in 1995! Oups!!!
P.P.S. Kawasaki also gave a nice plug for Canadian image stock company iStockphoto and Montreal based startup Atelier Transfert (they do 1 min summary videos about your company).
Best, Chris
Message sent via wireless device - thumb typo's included! Sorry.
Tuesday, March 24, 2009
Cooling the Future of electronics with liquid - iNovia's most recent investment - CoolIT Systems
We (iNovia Capital) just now announced our most recent investment in a Calgary based Liquid Cooling technology company – CoolIT Systems.
This is yet another great example about what a great management can do when brought together under the right circumstances. I my mind, Management is the utmost critical success factor for any early stage company. CoolIT’s co-founders Jason Myers, Brydon Gierl & Sandy Scott – built a really nice company from scratch with a nice story/mission: To change the world by addressing the electronic performance market via advanced liquid cooling, not just for super computers, but going right down to mobile electronic devices as well as graphic card GPUs. Not an easy task! Yet, when we starting working with the founders, their team and angel investors, we quickly realized how sharp these guys are.
Jason didn’t hesitate when building up the team around its founders, and quickly brought in as its CEO Geoff Lyon (ex-VP Sales & Marketing Harmony Remote), joined by John McDaniel and Doug Reid. This team knows what it takes to success, especially when going after the market gorillas such as HP, AMD and Dell.
Check out CES 2009 interview with Geoff Lyon (full screen video link)
| CES 2009: CoolIT Sealed Water Cooling Unit |
| CPU running a bit too hot? Air cooling not working but you’re scared of using a water cooled unit? This baby is sealed tight! |
For more info you can also take a peek at their web site at http://www.coolitsystems.com. I’ve also attached a copy of the press release below.
Chris
PRESS RELEASE
CoolIT Systems Closes $6.2 Million financing
Capital plan supports mainstream performance-computing adoption of liquid cooling
Calgary, Canada, March 24, 2009 – CoolIT Systems, the industry leader in advanced electronics cooling solutions, has completed a CDN $6.2M financing package. The investment was led by iNovia Capital, a leading venture capital fund manager, and included existing angel investors and AVAC Ltd.
CoolIT recently launched its breakthrough Domino Advanced Liquid Cooling (ALC) solution for desktop computers to industry acclaim at the Consumer Electronics Show (Las Vegas) and CeBIT (Hanover). This financing was timed to support that launch and accelerate the completion of a number of development projects for OEMs based on patented CoolIT technology.
"Electronics performance is now governed by thermal design more than any other factor. Customers are demanding quiet, reliable and efficient equipment that can only be delivered with advanced cooling solutions of the caliber provided by CoolIT", said Shawn Abbott, partner with iNovia Capital. “In addition to technology excellence, CoolIT has a world-class management team with the proven ability to lead high-volume, quality technology design and manufacturing organizations.”
Geoff Lyon, CEO of CoolIT, said, "We selected iNovia because our business needs a strong, long-term capital partner that understands the market as well as the operational challenges due to rapid order growth from both channel and OEM partners. With the PC industry rapidly shifting towards liquid cooling, this financing allows CoolIT to expand the sales channels internationally and additionally facilitates strategic corporate initiatives including a key acquisition we are negotiating."
"The CoolIT team exemplifies the entrepreneurial leadership we look for in companies," said Ross Bricker, CEO of AVAC Ltd. "They are thinking and operating globally, while leveraging the experienced talent and access to international markets unique to Alberta. We are delighted to have iNovia join us in our support of CoolIT."
About CoolIT Systems
CoolIT Systems has been working with industry leaders in the computer industry to research, design, and deliver next generation cooling products that provide a comprehensive solution while exceeding high OEM standards for reliability and maintenance-free operation. This carefully designed and patented technology unleashes the full potential of a PC, providing superior cooling performance while reducing system level noise and improving reliability of vital components. The CoolIT MTEC Technology can be found in the top names in performance computing like Dell, Alienware, Velocity Micro, MAINGEAR, CyberPowerPC, Hypersonic, Commodore Gaming, Biohazard, Ultra, Ultraforce, Systemax, BFG, War Machine and Shuttle. CoolIT also works with the AMD engineering group to provide the Reference cooling solution for the latest high performance video cards. For more information, visit www.coolitsystems.com.
About iNovia Capital
iNovia Capital manages seed and early stage venture capital funds, with a focus on helping entrepreneurs build successful companies in information technology, life sciences and cleantech. iNovia’s value-added approach to early stage investing provides portfolio companies with capital, unique access to intellectual property from its extensive network of industry and academic partners, advisors and sector-specific co-investors. For more information, visit www.inoviacapital.com or follow iNovia on Twitter at http://twitter.com/inovia.
About AVAC Ltd.
AVAC Ltd. is a private not-for-profit company that invests strategically in promising early-stage commercial businesses focusing on the expansion of Alberta’s value-added agribusiness, ICT, life sciences, and other industrial technology sectors. AVAC also participates in commercially-relevant agricultural research and is a strategic fund-of-fund investor in early stage venture capital. Created in 1997, and with the support of the Alberta and Canadian Governments, AVAC has invested in over 110 early-stage companies who have reported over $325 million in aggregate project-related sales to date. AVAC has also invested in 38 agriculture research programs and projects, and 3 venture capital funds including iNovia Capital. For more information, visit www.avacltd.com.
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Thursday, March 19, 2009
A new $825M Fund for Venture Capital to be put in place by Quebec Government
I believe this is great news for Quebec, for Canada and the whole Venture Capital Community. Earlier today, the Quebec Finance Minister Monique Jérôme-Forget presented here budget in which she outlines the $15-billion stimulus package. Budget 2009-2010.
We find in this Budget many changes and numerous proposed solutions for critical sectors of the economy. But the two initiatives that captured my attention are 1) the creation of the new $825M Venture Capital Fund (or will it be a Fund of Fund?) and 2) a $500Memergency Fund for businesses. Of course we have yet to see the details and inter-workings of such a Fund, but I would guess that these monies will provide some level of continuity to Venture Capital Fund managers and potentially direct investments as well. This is great news as long as the capital being put at work is done through proper management of such funds.
Over the last few years, The Solidarity Fund, the FondAction CSN, Desjardins Capital and the Caisse de Dépot have been hard at work figuring out ways to help entrepreneurs and business owners out. They have played a crucial/leading role in support of the Canadian Private Equity & Venture Capital industry. Their efforts are now joined by a clear and strong commitment to Venture Capital by the Quebec Government. This news comes a day after the Ontario Budget and announcement of their own co-investment fund in the amount of $250M.
I look forward to soon be witnessing a revived Canadian Venture Capital Ecosystem through (mostly) an indirect involvement by our governments into businesses through their direct commitment as limited partners into leading private venture capital fund managers across Canada.
Here are a few key highlights of 2009-2010 Quebec budget (as outlined by the Montreal Gazette):
- $15-billion economic stimulus package;
- $3.9-billion deficit budget;
- Quebec Stock Savings Plan, returns, tax deductions for stock market investments;
- Quebec sales tax will rise to 8.5 per cent in 2011;
- Indexing of fees, from birth certificates to driver’s licences, in 2011;
- $500 million more for job re-training;
- $1.5-billion more for health, $490 million more for education;
- A $500-million emergency fund, for businesses;
- A $825-million venture-capital fund, for businesses;
- $2,000 increase in tax credit for child-care expenses;
- Program to eliminate elder abuse;
- $1.6-billion more for Generations Fund over two years, to offset Quebec’s growing debt;
- Crack down on “aggressive tax planning” to curb tax evasion;
- 3,000 more low-cost housing units.
Wednesday, March 18, 2009
Entrepreneurs, start-ups and venture capital together, provide the utmost promise of returning confidence and results by addressing the global economy crisis from its roots
Funding innovation by helping promising technologies get into the hands of the consumers is by far the most tangible route towards creating sustainable wealth for all. As a society, we need to promote and encourage entrepreneurship. Our governments need to look into their own backyards and realize that the Venture Capital and Private Equity Industry plays a crucial role in the building of our future. From my own experience both as an entrepreneur and as a venture capitalist, clearly VC is a unique class of financial resource that only the most dynamic entrepreneurs with global ambitions can access. These entrepreneurs are the ones that deliver the most results in any economy. They create Jobs, new products, sustainable growth, and most importantly that provide everybody else with a reason to believe that anything is possible!
Through a straight equity participation or venture debt financing, entrepreneurs are the ones who can realistically convert great ideas into amazing businesses. In a recent study by the CVCA on the economic impacts of venture capital, the study clearly showed that venture capital activity in Canada has resulted in the creation of close to 150,000 jobs and an additional 1% to Canada’s GDP. In addition, according to the Information Technology Association of Canada (ITAC), 700,000 Canadians work in the broader information technology and communications technology sectors.
How was this possible? Because of entrepreneurs. How did they do it? Because they had access to Venture Capital funding.
Earlier today, the Ontario Government officially announced its response and support to the aching Canadian VC & PE industry by launching what they call a $250M matching fund for Emerging Technology Companies. More on McGuinty Government commitment towards supporting Ontario's research and innovation activities can be found at: http://www.mri.gov.on.ca/english/news/ETF031809.asp
Mark McQueen, one of Canada's most prolific and well read bloggers on Canada's private equity has been voicing the urgency to act and to support the Canadian VC & PE industry, and to actively deploy capital to innovative companies for years. Check out what Mark has to say on his recent blog posts at: http://www.wellingtonfund.com/blog
Meanwhile, we are doing our part and will be announcing our 2 most recent deals shortly!
To all of you entrepreneurs, I salute you!
CA
Monday, March 16, 2009
Angel & Venture Capital Finance: Where is the Money Moving?
Check out this SlideShare Presentation.
Also please send me any updated presentation on the state of the Canadian Venture Capital and Angel Community you may come to cross.
Thx
Also please send me any updated presentation on the state of the Canadian Venture Capital and Angel Community you may come to cross.
Thx
Monday, March 9, 2009
I had loads of fun at the MaRS District Entrepreneurship VC interview (Ochard, iNovia & Rosetta) watch the webcast
Last Wednesday I had the pleasure of participating in one of the MaRS District courses up in Toronto – CIBC Presents Entrepreneurship 101.
I had allot of fun. Peter Tolnai is a good friend and one of the original private VC fund managers in Canada in the mid ‘80s, and is currently Managing Partner at Orchard Capital. Peter put together this session and acted as moderator and started the VC interview by forcing his two VC guests (Chris Arsenault of iNovia Capital & Michael Midmer of Rosetta Capital) to drink some “Truth Serum” just to make sure we share real thoughts and comments with the crowd.
So if you have time to watch a fund and very interactive session (Q&A went on for 30 minutes post the 60 minute session) take a look at the Video:
MaRS District Collaboration Centre in Toronto
CIBC Presents Entrepreneurship 101.
March 4th re-webcast of the session titled: How to Get Money From a VC
Every entrepreneur wants to know the secrets for successfully pitching a VC or an angel. Join guest lecturer Peter Tolnai from Orchard Capital along with Chris Arsenault of iNovia Capital and Michael Midmer of Rosetta Capital, all prominent VCs who tell you their secrets for making a successful pitch. They also host a Q&A session in which the panel answers your questions directly without saying, "Come back in a few months when you've made some more revenue traction!"
http://www.marsdd.com/Events/Event-Calendar/Ent101/2009/what-investors-look-for-03042009.html
Enjoy!
Wednesday, March 4, 2009
Speaking in a few minutes at the Toronto MaRS DistrictEntrepreneurship series
I’m walking over to Toronto MaRS District for a speaking engagement, I was invited by Peter Tolnai to a panel titled “What do Investors Look for?”.
Peter is one of the great investor entrepreneurs I know. He doesn't want me to refer to him as the dean of VC so I won't... but I will mention that his VC background goes back to the ‘80’s when there was only 2-3 VC’s active across Canada! Hummm, sometime it feels like we are back in the ‘80’s !
Pretty impressive what Ilse Treurnicht, CEO of the MaRS Discovery District, has done with the building and the network that spawns across all areas of innovation. The main building is the host to numerous VC’s, IP agents, incubators, the CVCA and many promising young start-ups. http://www.marsdd.com/MaRS-Home.html <http://www.marsdd.com/MaRS-Home.html>
Now, let’s go talk about What Investors Look for!
Best, Chris
Message sent via wireless device - thumb typo's included! Sorry.
Just finished my CVCA Board meeting. I must say: Canada has a passionate and very dedicated VC & PE community!
Similar to other industries, the implication and passion of its Members is the main driver for its success and capability to adapt to change!
The debates and topics covered at the board level are truly driven and lively. What's good is that VC's have high expectation of its portfolio company CEO's, so in turn, the CVCA board has high expectation of its VC's!
Interesting fact: The CVCA – Canada’s Venture Capital & Private Equity Association – http://www.cvca.ca represents the large majority of all private equity companies in Canada, with over 1600 members now! CVCA members have over $75 billion in capital under management, in three distinct market segments:
- Buyout
- Mezzanine
- Venture Capital
Best, Chris
Message sent via wireless device - thumb typo's included! Sorry.
Tuesday, March 3, 2009
CVCA Annual Conference coming up in Calgary May 27-29th - Pure VC&PE networking delight
It’s time to stop looking at the stock markets and start building successful VC funded companies! Think I’m joking? I think not. We have been so absorbed here at iNovia working on new deals, exchanging and collaborating with some of the most amazing entrepreneurs I’ve come across (2 new deals were announced earlier this year and 2 more to come shortly) that we didn’t have much time to further build our network within the VC community!
So I’m taking a few minutes to inform you that the main VC & PE networking event in Canada is coming up May 27-29th in Calgary. I’ve been either a member of the board of directors of the CVCA and/or on the Organization Committee for the last 6 years. And I cannot express how much energy and commitment the CVCA get’s from its members. And that, says allot about our VC&PE community strengths up here in Canada. The “hot off the press” CVCA Annual Conference agenda can be found below. With everything that is going on, you can’t afford to miss out on this pure networking delight. Check out the agenda, register and bring some energy!
More details visit www.cvca.ca
See you there!
Chris
REGISTER at: http://www.cvca.ca/news/events/CVCA_Annual_Conference_Registration.aspx
AGENDA
The conference will kick off with a welcome cocktail event on the Wednesday evening and include a Gala dinner on the Thursday featuring the CVCA’s “Entrepreneur of the Year” Award presentation followed by our popular scotch-tasting networking event. We will also offer attendees an optional golf day on Wednesday at one of Alberta's premiere courses: The Links of GlenEagles in Cochrane. We have a Cyber Cafe throughout the conference sponsored by Enterprise Saskatchewan to further enhance networking opportunities.
| Wednesday May 27, 2009 |
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| 6:00 am – 2:00 pm | Golf Day - The Links of Glen Eagles, Cochrane, Alberta |
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| 3:00 – 7:00 pm | Conference Registration |
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| 5:00 – 7:00 pm | Welcome Cocktail Reception |
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| Thursday May 28, 2009 |
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| 8:00 am | Welcoming Remarks |
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| 8:10 am | Session 1 – The Outlook for the Industry: Facing Head Winds The panelists will present the most recent data on the venture capital and private equity industry: performance, fund raising, and investment. They will touch upon structural and cyclical issues which are presently affecting the industry in Canada and globally and point to responses presently in the making to face our difficult times, but also benefit from the opportunities they present. Moderator: Dale Botting, CEO, Enterprise Saskatchewan Panelists: |
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| 9:10 am | Session 2 – Asset Allocation – Role of Private Markets Debate Moderator: Stephen Hurwitz, Partner , Choate Hall & Stewart LLP Panelists: |
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| 10:10 am | Session 3 – Giving Back – Canary Foundation A 25-year veteran of the technology industry – Don Listwin was CEO of Sana Security, Openwave and had been the #2 executive at Cisco Systems. In 2004 Listwin walked away from his high profile technology career and launched Canary Foundation in order to dramatically accelerate early cancer detection research activities. http://www.canaryfoundation.org Don Listwin, Founder & Chairman, Canary Foundation |
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| 10:40 am | Coffee / Networking Break |
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| 11:00 am | Session 4 – State of the Union – what the future holds for PE from a global perspective Given the phenomenal growth in PE in the last decade, have we reached the end of the road for PE investing or will the PE asset class withstand the current storm and come out of it even stronger? Hear three of the most influential and well respected PE fund managers address the role of their firm in relation to the current global financial situation and what the future holds for the PE market in general. Moderated by one of Canada 's most respected PE investors, Mark Wiseman Head of Private Equity at CPP, this panel brings together a world class perspective with unique Canadian ties. Moderator: Mark Wiseman, Senior Vice President, Private Investments, Canada Pension Plan Investment Board Panelists: |
| noon | Keynote Speaker |
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| 2:00 pm | Concurrent Session 5A – VC – A Global Perspective Venture capital firms are facing unique challenges as they confront the global economic downturn. While leading global VC firms such as Accel and NEA have managed to raise billions of dollars of fresh capital over the past 6 months, the fundraising environment for many VC firms and their portfolio companies is challenging. A panel of global VC players discusses what the economic downturn means for venture capital investing, how they are adapting, where they see opportunities, and why VC firms that invest across geographies have a competitive advantage. Could 2009 be an exceptional vintage year for venture?
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| 2:00 pm | Concurrent Session 5B – PE – Current update on Debt Markets. Come hear from the leading financial institutions that actively provide senior and junior debt to the Private Equity community in support of new acquisitions and portfolio company re-financings. Very timely market cases will be discussed to flush out current pricing, leverage, terms and conditions available in today's highly volatile business environment. Moderator: Michael Badham, Partner, Financial Advisory Corporate Finance, Deloitte & Touche LLP Panelists: |
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| 3:15 pm | Coffee / Networking Break |
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| 3:45 pm | Concurrent Session 6A - VC Fund raising environment – the future that lies ahead 2009 and 2010 is expected to be the most significant fundraising period for Canadian VCs in the last decade as a number of funds have announced their intention to raise their next fund in this period. How do LPs see the environment and are their objectives aligned with the GPs looking to raise their next fund? In this session, the panelists will outline the opportunities and challenges they are currently facing in the current fundraising environment. Moderator: Daniel Dupont, Partner, Coller Capital Ltd. Panelists: |
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| 3:45 pm | Session 6B PE – Current State of the Canadian M&A Market – Where Will Private Equity Play the Largest Role in 2009? With the current economic crisis eliminating financing options, reducing public valuations to levels not seen for years and eroding business confidence Canadian M&A activity has slowed dramatically. Please join our panel of seasoned dealmakers as we explore the role of private equity in 2009 in relation to the M&A markets. Where will the best opportunities lie for private equity funds? Will privatizations present opportunities for funds and how will these deals get financed? What outlook should private equity funds expect in terms of exits, both in the public markets and privately? Moderator :W. Ian Palm, Partner, McCarthy Tétrault LLP Panelists: |
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| 6:30 pm | Gala Cocktail Reception |
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| 7:30 pm | Gala Dinner CVCA's ‘Entrepreneur of the Year Award' presentation |
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| 9:30 pm | Scotch-Tasting |
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Monday, March 2, 2009
We just completed an investment in a new portfolio company - Tynt - the creators of the Tynt Tracer!
Novia Capital recent VC investment in Calgary based social network monetizing company - Tynt http://www.tynt.com
This is our first investment in Western Canada. Tynt develops leading edge hosted solutions for online publishers, social networks and online communities. Their value is their capability to help generate revenue and increase user engagement. Tynt has developed really cool technology put together an amazing management team to deliver. Derek Ball, Dayton Foster and Allan MacKenzie are the founders of the Company.
The ideas is great and the technology is solid, the management team on the other hand, is just amazing:
Derek Ball – CEO – has been a leader in the emerging technology industry for over a decade and a half. Prior to Tynt, Derek was CEO of Sonic Mobility Inc. which built software for mobile handheld devices and was acquired by Avocent Corp (NASDAQ: AVCT) in 2004. In between Sonic Mobility and Tynt, Derek served as Entrepreneur In Residence for Calgary Technologies Inc. coaching dozens of early stage tech ventures. Derek has extensive experience in early stage ventures having raised millions of dollars in capital for his own start-ups and working with strategic partners such as Microsoft, RIM, HP, Lockheed Martin and the US military. Derek has also published over a dozen books in emerging technology and has been a noted speaker worldwide for over many years.
Dayton Foster – COO – Dayton has over a decade of experience growing start-up technology ventures. At Tynt, Dayton is responsible for guiding product development. Prior to Tynt, Dayton was Vice President of Research & Development for Sonic Mobility Inc. which built software for mobile handheld devices and was acquired by Avocent Corp (NASDAQ: AVCT) in 2004. In between Sonic Mobility and Tynt, Dayton served as Director of Mobile Technologies for Avocent Corp. Dayton has also co-authored 3 books in emerging technology for McGraw-Hill and is asked to speak to technology startup companies on topics as diverse as pricing theory, channel development and software development process.
Allan Mackenzie – Executive Chairman - Allan has an exceptional investment and operational track record within the high technology and other industries. Allan is a high profile investor in the Calgary community having led or participated in the financing of several successful start-ups (Exits include Teamplate, Sonic Mobility, WestJet Airlines, Quack.com, SideStep) Along with this, Allan has also had the personal experience in building a rapid growth technology company. Allan was the CFO at Quack.com which was sold to AOL for $200 million one year after it was incorporated. Allan is presently a partner in Calgary based Octane Venture Partners.
I’ve attached a copy of the full press release below for those interested.
Chris...
Tynt Multimedia Closes $5 Million Series A Investment
- Tynt enters beta with key partners -
Calgary, Canada, March 2, 2009 - iNovia Capital, a manager of seed and early stage venture capital funds, today announced its investment in Calgary-based Tynt Multimedia to complete the closing of a $5 Million financing round that included existing angel investors and the Alberta Value Added Corporation (AVAC Ltd.).
Tynt addresses the biggest challenge online publishers and site operators face today in achieving revenue goals; understanding, evidencing and driving user engagement. Tynt’s Tracer service can monitor and track when users copy content from a web site and further attach attribution to the copied copyrighted content. This provides actionable indication of the content most valued by users, drives additional traffic back to customer sites and enhances search engine optimization strategies. Tynt’s annotation tools further increase user engagement by enabling in-context discussion on customer sites.
“Having iNovia as a capital partner is a key strategic development for us”, said Derek Ball, CEO of Tynt, “In this challenging market online content publishers must find ways to benefit when their content is spread across the Internet by their readers. Our self-service enrolment allows publishers and bloggers to start gaining insight into audience behaviour in minutes.”
“Derek has assembled a world class team and they are laser focused on a huge, unaddressed problem with unique and patent pending intellectual property” said Shawn Abbott, Partner with iNovia Capital. “Tynt fits our digital media strategy and also has a high degree of synergy with our existing portfolio.”
“We are thrilled that iNovia has joined AVAC in supporting Tynt,” said Ross Bricker, CEO of AVAC Ltd. “One of the markers of success for companies within AVAC’s portfolio is the securing of subsequent investment from firms like iNovia. We saw Tynt’s potential to be a disruptive force in the global social networking marketplace and we are delighted by the company’s progress to date.”
About Tynt
Tynt develops leading edge hosted solutions for online publishers, social networks and online communities to increase user engagement and maximize revenue. Tynt was founded in 2007 by serial entrepreneurs Derek Ball, Dayton Foster and Allan MacKenzie in Calgary, Alberta, Canada. For more information, visit www.tynt.com
About iNovia Capital
iNovia Capital manages seed and early stage venture capital funds, with a focus on helping entrepreneurs and innovators build successful companies in the sectors of information technology, life sciences and cleantech. iNovia Capital's value-added approach to early stage investing provides portfolio companies with capital, unique access to intellectual property from its extensive network of industry partners and academic partner institutions, advisors and sector-specific co-investors. For more information, visit www.inoviacapital.com
About AVAC Ltd.
AVAC Ltd. is a private not-for-profit company that invests strategically in promising early-stage commercial businesses focusing on the expansion of Alberta’s value-added agribusiness, ICT, life sciences, and other industrial technology sectors. AVAC also participates in commercially-relevant agricultural research and is a strategic fund-of-fund investor in early stage venture capital. Created in 1997, and with the support of the Alberta and Canadian Governments, AVAC has invested in over 110 early-stage companies who have reported over $325 million in aggregate project-related sales to date. AVAC has also invested in 38 agriculture research programs and projects, and 3 venture capital funds including iNovia Capital. For more information, visitwww.avacltd.com
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