iNovia strengthens its presence in California with the addition of industry veterans Scott Munro and Todd Simpson

MONTREAL, Feb. 1, 2017 /CNW Telbec/ - iNovia, Canada's Go-To Early Stage Venture Capital Fund is pleased to welcome to its team two technology industry veterans - Scott Munro and Todd Simpson. iNovia's increased presence in the Bay area and Silicon Valley will accelerate portfolio growth and the building of strategic relationships.

"Building strong corporate and strategic relationships in the Bay area and around Silicon Valley has proven highly successful for some of our most promising Canadian portfolio companies such as: Allocadia, AppDirect, Lightspeed, Vidyard, TopHat, Clearpath Robotics and Thalmic Labs", says Chris Arsenault, iNovia's Managing Partner. "So, we looked for successful entrepreneurs and CEOs in Silicon Valley who also had strong ties with Canada to further support our growing portfolio. We are excited to announce that we have teamed up two such individuals."

Joining the iNovia team are:

Scott Munro - Ex-Chairman and CEO of Savoir Technology Group, a company he grew from $50 Million to a $1 Billion run rate prior to selling the company. Subsequently, Scott founded Pagemill Partners, a Palo Alto based middle market investment bank which was acquired by Duff & Phelps. Pagemill has completed over 250 transactions primarily on the sell side in software, communications, internet and media and hardware. Scott will help our portfolio companies in developing the foundations for acquisitions, successful exits or initial public offerings. He is now a Venture Partner with iNovia and resides in Northern California.

"Having previously worked on a transaction with iNovia, I knew the positive culture and team dynamic. We each have a passion for helping great entrepreneurs achieve their goals and I'm looking forward to adding my knowledge in M&A to the benefit of all", says Scott Munro - Venture Partner at iNovia

Todd Simpson is an accomplished entrepreneur and executive originally from Calgary, and now lives in the Bay area. He was Chief Strategy Officer at AVG, Chief of Innovation at Mozilla, and had CEO roles in both public and private companies.  He joins us as a full-time Venture Partner and is based in San Francisco.

"I've watched iNovia's growth over the last ten years with interest and excitement.  Having built several startups and run both public and private companies, and with a strong desire to give back to Canada, I jumped at this opportunity at iNovia", says Todd Simpson - Venture Partner at iNovia. "Giving iNovia a permanent presence in the Valley will allow us to provide even more guidance and value to our portfolio, while helping with partnering and exit strategies."

About iNovia Capital

iNovia is an early stage venture capital firm that partners with visionary entrepreneurs to build the next generation of digital platforms and services. We leverage our distributed team and network of experienced founders, company builders and engineers to foster the growth of category-defining businesses. Headquartered in Canada, iNovia manages $500M and invests across North America. For more information, visit www.inovia.vc.

SOURCE iNovia Capital

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2017/01/c4178.html

For further information: Delia Pettit, iNovia Capital, delia@inovia.vc, 514-982-2251 x 300

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