MONTREAL, July 4, 2013 /CNW Telbec/ - Cycle Capital Management (CCM)
today announced the launch of Cycle Capital Fund III L.P. (Fund III), a
new venture capital fund in the clean technology sector, which targets
companies at the commercialization stage. The announcement was made by
Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital,
accompanied by Quebec Premier Pauline Marois and Minister of Finance
and the Economy Nicolas Marceau.
The Cycle Capital Fund III will invest in sectors involving energy
efficiency, green agriculture and chemistry, industrial applications,
transportation, clean energy and fuels, and waste upgrading and
transformation. Cycle Capital favours projects with the highest
performance that help improve process efficiency.
Thanks to the participation of the Government of Quebec, which is
contributing $50 million through its authorized representative,
Investissement Québec, and several committed partners, including
Teralys Capital, Hydro-Québec, Aluminerie Alouette, Fondaction CSN,
Cascades, Gaz Métro, and Cycle Capital associates, this fund has
reached a total of $108 million.
"We are proud to once again succeed in bringing together partners from
the institutional and industrial sectors to create Fund III. We are
thrilled by the renewed confidence of our partners and the outstanding
contribution of the Government of Quebec, which have encouraged us to
pursue our investment efforts," said Andrée-Lise Méthot.
"As the data on world venture capital shows, the clean technology sector
is one of the most promising. Quebec is not being left behind, because
it is also participating in this international movement and helping
build solid businesses, prepared to confront the world challenges that
await us," concluded Méthot.
"Thanks to this new fund, added to the two existing funds, Cycle Capital
now offers the most comprehensive financing in Quebec to effectively
support the launch of innovative companies in the clean technology
sector. We are pleased to support this major partner in the development
of a sector that will help determine the success of Quebec in the long
term," added Jacques Bernier, Managing Partner at Teralys Capital.
About Cycle Capital Management
A pioneer among Canadian venture capital funds focused on the cleantech
sector, Cycle Capital invests in companies developing and
commercializing clean technologies and striving to reduce greenhouse
gas emissions, optimizing resource use, and improving process
efficiency throughout a product's life cycle.
With assets under management of $230 million, Cycle Capital invests in
Quebec and northeastern North America. Cycle Capital is composed of
experienced investment professionals, strategic advisors, and
industrial partners with in-depth knowledge of the sector. Cycle
Capital has a special relationship with its strategic partners, notably
Brookfield Renewable Energy, Rio Tinto Alcan, Cascades, Master Group,
Lonza, Gaz Métro, Systemex Énergies, Aluminerie Alouette, and
SOURCE: Cycle Capital Management
For further information:
Cycle Capital Management