Biz Briefs

Published April 26, 2008

AB: Venture Capital fund look to Western Canada for growth

By Mario Cywinski

AB: An early stage venture capital funds company has decided to establish a presence in the province's growing market by creating partnerships with local institutions.

INovia Capital by way of its iNovia II investment fund is working with western Canadian entrepreneurs, and is expecting to invest in many companies over a four year period. Usually, these investments begin at half a million dollars and can grow up to $7 million.

Interestingly, this is the first major early stage private venture capital fund that has decided to start operations in the province. AVAC Ltd as well as the University of Alberta have led much of the discussions with INovia.

"Our investment in iNovia II as a limited partner under our recently launched IVAC Early Stage Venture Fund initiative represents a key step in building Alberta's access to capital for promising early stage companies," said Ross Bricker, president and CEO of AVAC Ltd.

Currently, iNovia has made partnership in the province that will be around a billion dollars per year by way of research and development.

"This amount of capital will not only help entrepreneurs commercialize their innovations and bring new and exciting products to market, but it will further help to build a more vibrant diversified economy in Alberta," said John Masters, President and CEO, Calgary Technologies Inc.



If you enjoyed this article, be sure to visit CanadaOne's article knowledge base for more informative articles.

Author Info

Mario Cywinski is the Assistant Editor and Writer for CanadaOne.com.

CanadaOne Recommends

How Do People Respond When They Are Bullied?

We know a great deal about crises, what causes them, the stages that people go through, what is normal, what is abnormal and most importantly, how to deal with a crisis when it happens. This has obvious relevance where someone is being bullied. In this article Dr. Towler helps business owners, managers and workplace harassment victims understand what happens to someone during a crisis and how we can best respond.

Where Did All The Cash Go?

These eight drivers of cashflow are essential tools for business owners and managers.

Overcome Conversation Power Plays: 5 Steps to Success

What should you do when your questions are being ignored? Follow these steps to manage your way through communication clashes.

Hack Your Customer: A New Approach to Marketing Sales

The best way to take advantage of new paradigms in marketing and sales may be to stop thinking like a marketer and start thinking like a computer hacker.