iNovia Capital announces launch of $107 Million second venture capital fund



    Will provide entrepreneurial capital to early stage companies

    MONTREAL, March 27 /CNW Telbec/ - iNovia Capital, a manager of seed and
early stage venture capital funds, announced today the launch of its second
fund, iNovia Investment Fund II L.P. ("iNovia II"), a $107 million Canadian
seed and early stage venture capital fund focused on the information
technology, life sciences and cleantech sectors.
    iNovia Capital, which recently completed iNovia II's second closing,
obtained the support of important investors from within Canada and abroad
including: Consensus Business Group, Caisse de dépôt et placement du Québec,
FIER Partners, BDC Capital, AVAC Ltd., Solidarity Fund QFL, Export Development
Canada (EDC), Fondaction, McGill University's Endowment fund, the University
of Alberta, Université de Sherbrooke, Bishop's University Foundation CSN,
Gestion Univalor L.P. and Telesystem Ltd., as well as a number of strategic
angel investors.
    "iNovia Capital provides entrepreneurial capital to the companies it
backs. We are indeed pleased to have attracted, as investors in iNovia II, a
diverse group of institutions and individuals who share our vision and
approach," said Mark de Groot, President & CEO of iNovia Capital. "With
iNovia's expanded presence across Canada, we will continue to execute on our
seed and early stage investment strategy, and further build out our North
American network of co-investors and deal flow providers, in order to generate
strong returns for our stakeholders."
    In preparation for the launch of iNovia II, Shawn Abbott joined the
management team as Partner in 2007. Shawn brings to the team over twenty years
of experience as a technology entrepreneur, an angel investor and a venture
capitalist. This experience includes serving as CTO and then President of
Rainbow Technologies (NASDAQ:   RNBO) where he consolidated three divisions,
built a management team to return the US$70 million business to profitability
and growth, and positioned it for a successful sale in 2004 at nearly half a
billion USD. Prior to joining Rainbow, Shawn established and built the AND
group, which pioneered a widely used encryption-based CD-ROM software
distribution system. Shawn was most recently general partner with the
Alberta-based venture capital fund SpringBank TechVentures.
    With its recent additions, the iNovia Capital management team now
comprises a diverse group of professionals, all of whom have operational or
financial backgrounds, coupled with strong technical and business expertise.
iNovia has also established a network of Venture Partners and Entrepreneurs in
Residence, who provide industry insight and expertise, along with access to a
large network of collaborators.
    "We task ourselves with finding exceptional technology entrepreneurs and
identifying the most promising innovations which, in combination with our
financial support, have the potential to transform industries", said Chris
Arsenault, Managing Partner and COO of iNovia Capital. "The entrepreneurial
capital we provide goes well beyond financing, and gives seed and early stage
companies unprecedented access to complementary intellectual property, as well
as an extensive network of partners, advisors and co-investors."
    iNovia II's seed and early stage investment activities span the software,
semiconductor, medical device, biopharmaceutical and cleantech sectors.
Building on its unique relationships and partnerships across Canada and the
US, iNovia II expects to invest in a broad range of companies over the course
of the next 4 years. Initial investments tranches should vary between
$500,000 and $2 million, and can go as high as $7 million over the life of a
given company.

    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 information technology, life sciences and cleantech sectors. iNovia
Capital's value-added approach to early stage investing provides portfolio
companies with capital, unique access to intellectual property from its
partner academic institutions and an extensive network of industry partners,
advisors and sector-specific co-investors. For more information see
www.inoviacapital.com.

    About Caisse de dépôt et placement du Québec

    The Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and insurance
plans. As at December 31, 2007, it held CA$155.4 billion of net assets. One of
the leading institutional fund managers in Canada, the Caisse invests in the
main financial markets as well as in private equity and real estate. For more
information: www.lacaisse.com.

    About FIER Partners

    FIER Partners L.P. has $85 million available to support the creation of
sector development funds that make equity or quasi-equity investments in
start-up companies. The limited partnership contributes one dollar for every
two dollars sourced from private investors, so that the total capitalization
of the sector funds may ultimately reach $240 million. Lastly, FIER Partners
has a $180-million envelope to support developmental projects, mainly in the
regions. For more information, visit www.fierpartenaires.com .

    About Consensus Business Group

    Consensus Business Group ("Consensus") is a multi-faceted principal
advisor to the Trustees of a Family Trust which is its ultimate beneficial
owner. Consensus advises on a broad range of activities, including structured
finance and the acquisition, management and development of commercial and
residential real estate. Consensus has significant shareholdings in property
and property related companies and is now one of the UK's largest private
property companies with $10bn of investments in commercial property and a
portfolio of around 300,000 residential freeholds. Consensus has a strategic
focus on the environmental and cleantech sector and has advised on more than
$400m of private equity, venture capital, infrastructure and fund investments.
    Consensus has developed a number of proprietary business models that
involve technology transfer, industrial offset, and leveraging the synergies
between cleantech investments and the extensive property portfolio. Consensus'
activities are supported by a dedicated and experienced investment and
structured finance team. For more info, visit www.cbg.uk.com

    About BDC Capital

    BDC Capital is a major venture capital investor in Canada, with a focus
on technology-based funds and businesses that have high growth potential and
that are positioned to become dominant players in their markets. BDC Venture
Capital has been involved in venture capital since 1975 and has to date
invested in more than 20 venture capital funds and 400 companies involved in
the areas of Life Sciences, Telecommunications, Information Technology and
Advanced Technologies.

    About the Solidarity Fund QFL

    With net assets of over $7.4 billion as at November 30, 2007, the
Solidarity Fund QFL is a development capital company that through its RRSP
channels the savings of Quebecers into investments in all sectors of the
economy to help create and maintain jobs and to further Québec's economic
growth. The Fund is a partner, either directly or through its network members,
in 1,696 companies. It currently has more than 575,000 shareholders and has
helped, on its own or with other financial partners, to create, maintain and
protect over 122,000 jobs. For more information, visit www.fondsftq.com.

    About Export Development Canada

    EDC Equity, an investment partner with global reach, is engaged in
domestic and international investment activities to facilitate global business
expansion and export growth of Canadian companies. EDC is Canada's export
credit agency, offering innovative commercial solutions to help Canadian
exporters and investors expand their international business. EDC's knowledge
and partnerships are used by 6,400 Canadian companies and their global
customers in up to 200 markets worldwide each year. EDC is financially
self-sustaining and is a recognized leader in financial reporting, economic
analysis and has been named one of Canada's Top 100 Employers for seven
consecutive years.

    About Fondaction CSN

    Fondaction CSN invests in venture capital in order to maintain and create
jobs in Québec. Its net assets, which stood at $554 million as at November 30,
2007, are derived from retirement savings collected from more than
77,000 shareholders. It is the financial partner of about a hundred
enterprises and partner and specialized funds. It favours enterprises that
subscribe to a participatory management process, enterprises in the social
economy (employee-controlled, cooperatives, etc.) and those that practice
environmental stewardship. Fondaction CSN is Québec's first financial
institution to obtain OS (Organisational Stakeholder) status under the Global
Reporting Initiative (GRI), implemented by the United Nations Environment
Programme (UNEP). www.fondaction.com www.REERvert.com

    About Telesystem

    Telesystem is a private corporation dedicated to the creation and
management of companies operating in a variety of promising fields such as
media and health management. Furthermore, through its venture capital
management subsidiaries: Argo Global Capital, Propulsion Ventures and ID
Capital, its activities also include investment into emerging companies from
the communications, software, Web 2.0 and industrial technologies sectors.




For further information:

For further information: Editorial Contact: Zara Myles, iNovia Capital
Inc., (514) 982-2251 x375, zmyles@inoviacapital.com


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