Inovia Capital is a full-stack venture firm that invests in passionate tech founders with global ambitions. With over $1.5 billion (approx £1 billion) across early and growth-stage funds, Inovia offers capital, coaching, and access to talent in the most valuable ecosystems in Canada, the US, and Europe.
Growth Fund II
Recently, the Montreal-based company announced the closing of its second growth fund at $450 million (approx £323 million). Moving forward, Inovia’s European team based in London, is now focused on growing its presence and increasing its investment in Europe.
Inovia Partner Patrick Pichette leads the London-team, also recognised for chairing the board of Twitter and NYSE-Lightspeed.
“We are super enthusiastic about the growth stage opportunities in Europe. Europe plays host to an amazing array of up and coming entrepreneurial and tech talent, and more companies are raising early-stage investment every year.” Pichette said.
How will the funding be used?
The company will invest the fund in tech-focused growth-stage companies, including financial services, healthcare, commerce, the future of work, and travel.
Since the Growth Fund I, Inovia has invested in companies such as Lightspeed, AppDirect, Sonder, Hopper, AlayaCare, WorkJam, Forward, Snapcommerce, and Syed. Notably, the new growth fund is spearheaded by Chris Arsenault, Dennis Kavelman, and Patrick Pichette.
“Attracting and retaining skilled talent is a critical success factor for all our scaling companies, so we are doubling down on our successful Canadian-focused Remote Talent Program to meet the needs of our founders,” said Dennis Kavelman, Partner at Inovia Capital. “We also emphasise the importance of building a diverse workforce and great boards to make the best decisions and scale faster.”
Invested around £539 million
To date, Inovia Capital has invested over $750 million (approx £539 million) across 100 companies that have collectively raised over $5.3 billion (approx £3.8 billion) , and currently, employs over 10,000 people worldwide. The company holds offices in Montreal, Toronto, Calgary, San Francisco, and London.
The post Inovia Capital closes Growth Fund II at £323M; strengthens London team to invest and expand in Europe appeared first on UKTN (UK Tech News).
