A complete funding ecosystem steadily put in place in Québec
An additional $100 million now available to our local technology
/NOT FOR DISSEMINATION IN THE UNITED STATES OR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES/
MONTREAL, May 23, 2012 /CNW Telbec/ - Teralys Capital is proud to
announce a $50 million investment in Rho Canada Venture Fund II ("Rho
Canada II") concurrent with its initial closing of $100 million. Rho
Canada, based in Montréal, will build on the success of its prior fund
with early stage investments in new media, mobile applications,
wireless infrastructure, semiconductors and software. The fund will be
managed in partnership with Rho Capital Partners ("Rho Capital"), a
successful international investment firm since 1981. Teralys Capital is
also partnering with leading private and Canadian institutional
investors, including BDC Venture Capital, Ontario Venture Capital Fund
"Rho Canada plays a pivotal role with our entrepreneurs in Québec by
providing them access to an international network of strategic
partners, customers and co-investors", said Jacques Bernier, Managing
Partner of Teralys Capital. "Rho Capital and Rho Canada have a
significant history of deal making in Québec, having financed several
companies in the province over the past 5 years and attracted over $200
million in direct and foreign investments. Recent investments in
Accedian Networks, Beyond the Rack and Enerkem clearly illustrate how
Rho Capital's network and expertise can accelerate their growth".
"The closing of this second fund will enable Rho Canada to continue to
add value to Québec entrepreneurs while delivering strong returns to
our investors", said Jeff Grammer, Partner with Rho Canada. "The
continuous support of our institutional investors has enabled us to
back technology companies that will have a strong impact on Canada's
economy and we look forward to continue to deliver on this strategy
with our second fund".
The announcement was held in Montreal earlier today during "DemoDay" and
"AccelerateMTL 2012", two events organized to help early stage
technology entrepreneurs to innovate, collaborate and accelerate their
growth. Teralys Capital' seven fund investments in the technology
sector, from early stage to growth and expansion, concurrent to such
community-driven activities, have helped Québec's tech companies access
capital and expertise at every step of their development.
"The Québec startup ecosystem has been going through a renaissance over
the past few years which was fueled in great part by Teralys Capital",
said Jean-Sébastien Cournoyer, co-founder of FounderFuel. Entrepreneurs
with a vision to build great companies need a complete funding
ecosystem to succeed. We're happy to have Rho Canada as a partner and
co-investor. "The ability to build real cross-border relationships and
provide mentoring to promising startups is key", added Chris Arsenault,
C100 Charter Member and Board Member. "With this new fund, Rho Canada
joins a select group of early stage investors that can help local
entrepreneurs scale their businesses internationally".
About Teralys Capital
Teralys Capital is a fund of funds created to finance private venture
capital funds focused on investing in life sciences, information
technology and cleantech companies. The fund has over $700 million in
capital commitments from Caisse de dépôt et placement du Québec, the
Solidarity Fund QFL and Investissement Québec. Teralys Capital is also
managing two existing portfolios of venture capital funds with
additional assets under management of over $600 million. It is
currently the largest fund of funds in Canada. Visit www.teralyscapital.com for more information.
About Rho Canada
Rho Canada is a division of Rho Capital Partners focusing on early-stage
investing in Canada's most innovative technology companies. The Rho
Canada team comprises a unique combination of entrepreneurial,
operational and venture investment experience, in the United States and
Canada. Rho Canada has $200M under management across two early stage
funds. For more information, visit www.rhocanada.com.
About FounderFuel and "DemoDay"
FounderFuel is a mentor-driven startup accelerator program that provides
seed capital and access to veteran entrepreneurs, angel investors,
venture capitalists and senior executives. FounderFuel hosts creative
teams for a 12-week intensive mentorship that culminates with a "Demo
Day" pitch in front of professionals, media representatives and
Canadian investors. Visit www.FounderFuel.com for more information.
About C100 and "AccelerateMTL 2012"
C100 is a member-driven organization dedicated to supporting Canadian
technology entrepreneurship and investment. C100 is comprised of a
select group of Canadians based primarily in Silicon Valley, including
executives of leading technology companies, experienced startup
entrepreneurs and venture capital investors. C100 has provided
mentoring to over 95 startups and participated in over $417 million of
tech financings. AccelerateMTL 2012 is an event geared towards
connecting local technology entrepreneurs with industry influencers and
investors. For more information, visit www.theC100.org.
Note: This press release does not constitute a solicitation to invest in
the Rho Canada Venture Fund II or any other fund managed by Rho Capital Partners.
SOURCE Teralys Capital
For further information:
999 de Maisonneuve West, Suite 1700
Montreal (Quebec) H3A 3L4
+1 (514) 509-2082