Cycle Capital, Canada’s largest clean technology venture capital investment platform, is proud to announce new closings of Capital Fund IV, drawing in commitments from La Capitale Insurance and Financial Services, Concordia University, few family offices and private investors. They are joining LPs from the initial closing including Teralys Capital, Fonds de solidarité FTQ, Fondaction, Suez, Hydro-Québec, Innergex Renewable Energy, McConnell Foundation, Rio Tinto, Vancity Credit Union and Trottier Family Foundation. The Fund IV also received a $20M participation from the federal government’s Venture Capital Catalyst Initiative (VCCI), announced in 2019.
“I’m thrilled that, with the help of our government, Cycle Capital will be investing in clean tech start-ups from coast to coast to coast. This will allow these businesses to grow into innovative global champions for combatting climate change and will lead to new jobs and opportunities for Canadians. Through our Venture Capital Catalyst Initiative, we will continue to support diverse industries and entrepreneurs doing excellent work in the clean tech sector.”
– The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade
“La Capitale is proud to join the Cycle Capital Fund IV and to invest in the development of clean technologies in Quebec and in Canada. We are convinced that a greener future will be made possible through innovative clean solutions, and we are honored to take part in achieving this goal.”
– Jean St-Gelais, Chairman of the Board and Chief Executive Officer at La Capitale Insurance and Financial Services
“We are proud to be investing in this clean technology fund. For the Concordia Foundation, this is part of our larger strategy to increase responsible and sustainable investments, in line with Concordia University’s values and policies.”
– Marc Gauthier, Concordia University Treasurer & Investment Officer.
“Our approach to curate the best cleantech ideas and help them scale into innovative global leaders while at the same time providing high returns, drew commitments from both long-standing and new Limited Partners. The combination of these forward-thinking investors will enable us to drive growth in some of the top innovative cleantech companies.”
– Andrée-Lise Méthot, Cycle Capital’s Founder and Managing Partner.
Cycle Capital Fund IV is investing across North America, with a primary focus on Canada, in key technology sectors such as energy storage and efficiency, green chemistry, clean transportation and smart city technologies, Green IoT, Big Data & AI and agtech. As one of the few gender-balanced women-founded VC funds, Cycle Capital is convinced that diversity and inclusion are the drivers of better performances.
Cycle Capital Management
Cycle Capital Management (CCM) is an impact investor and Canada’s largest cleantech venture capital investment platform with AUM (assets under management) close to $0.5B. With offices in Montreal, Toronto and Qingdao – in continental China – and a presence in New York and Seattle, CCM invests in companies at the development and growth stages that commercialize clean technologies that reduce greenhouse gas emissions, optimize resource use and improve process efficiency throughout North America and China. CCM is also the Founder of the Ecofuel Accelerator and the Co-Founder of the Ecofuel Fund.
Cycle Capital brings together seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. The firm has many industrial partners such as Suez, Rio Tinto, Hydro-Québec, Brookfield, Innergex Renewable Energy, Énergir, Cascades, Lonza, Aluminerie Alouette, Qingdao City Construction Investment Group and impact investors including Vancity Credit Union, McConnell Foundation, Trottier Family Foundation and few family offices. For more information on Cycle Capital, visit: cyclecapital.com.
About Venture Capital Catalyst Initiative
Venture Capital Catalyst Initiative (VCCI) is a $450 million Federal government program backed by the Government of Canada to strengthen the local venture capital ecosystem, and help Canadian companies scale. VCCI Stream 1 invested in large funds-of-funds that will support Canadian VC fund managers, while VCCI Stream 2 invested in emerging and diverse managers, underserved regions and sectors, and alternative fund structures. VCCI Stream 3 invested in VC funds investing primarily in clean technology firms. Read more: http://www.ic.gc.ca/eic/site/061.nsf/eng/h_03052.html
About La Capitale
La Capitale Insurance and Financial Services, created in 1940, has a strong presence across Quebec and throughout Canada. With over 2,686 employees and guided by the values of mutualism on which it was founded, La Capitale works with clients to build, protect and value what they feel counts for their financial security. It offers insurance products and financial services to the general public as well as to Quebec public service employees. With assets of $7.4 billion, La Capitale occupies a choice position among leading insurers in Canada.
About Concordia University
Concordia University, located in Montreal, was ranked first in Canada among universities founded or established in the last 50 years according to the 2019 Quacquarelli Symonds “Top 50 Under 50” Rankings. www.concordia.ca
Vice President, Sustainability, Investor Relations and Public Affairs
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