CALGARY, Alberta, April 11, 2013 /CNW/ - Azure Capital Partners, a venture capital firm investing in early-stage information technology and internet companies, announced today the opening of its Canadian office in Calgary, Alberta. Headquartered in San Francisco, Azure has extensive relationships in Silicon Valley, which it has leveraged by investing almost half of its funds outside of the Bay Area across North America over the past thirteen years.
"Canada has an impressive community of talented entrepreneurs, which reflects the high quality of a number of its technology companies. In addition, Canada's economic policies and commitment to innovation offer a compelling competitive advantage for its startups," said Cameron Lester, General Partner at Azure. "We believe that the country warrants a local presence with strong ties back to our team in the Bay Area. This would be the first time that Azure has established an office in a new geography and is an indicator of our strong belief in the investment opportunities across Canada. We also believe that Calgary represents a central and convenient location for this office, where we can evaluate not only local deal flow, but also companies based in and around Vancouver, Toronto, and Montreal. Our Calgary office will work closely with our team in the Bay Area, since a critical value that we bring to companies is our knowledge and contacts in Silicon Valley."
Azure Vice President, Dan Park, will lead Canadian investment activities out of the Calgary office. Prior to joining Azure, Dan was a Vice President and a founding member of Foros Group, a technology-focused investment banking advisory firm based in New York. While at Foros, he helped launch the firm and was responsible for business development and transaction execution. Prior to Foros, Dan worked in the Mergers & Acquisitions Group at Deutsche Bank Securities in New York focusing on technology, media & telecommunications, and healthcare. Before joining Deutsche Bank, Dan worked at BMO Capital Markets in Toronto. Dan earned a Bachelor of Commerce degree from McGill University and an M.B.A. from the Wharton School at the University of Pennsylvania.
Azure's current fund, Azure Capital Partners III, L.P., has received investments from Alberta Enterprise and B.C. Renaissance Capital Fund, a Crown corporation that is wholly owned by the B.C. Immigrant Investment Fund.
"Azure's experience and expertise connects Alberta technology startups and entrepreneurs to the world's technology epicentre, Silicon Valley," said Barry Heck, Vice Chairman and CEO of Alberta Enterprise. "This investment is consistent with our strategy of linking Alberta entrepreneurs to major markets and technology communities – which supports the successful commercialization of Alberta technologies and products."
"Azure's full-time presence in Canada is consistent with our strategy of attracting successful venture capital managers to develop promising, innovative technology companies in British Columbia", said Jeff Lindsay, Senior Portfolio Manager of B.C. Renaissance Capital Fund.
About Azure: http://www.azurecap.com
Founded in 2000, Azure is a San Francisco-based venture capital firm with over $750 million under management. Azure invests in early stage technology companies that are at the forefront of a transformative opportunity for growth. Azure's partners have served as trusted advisors to some of the most successful and important technology companies created in the last decade, including VMware, Bill Me Later (acquired by eBay), Calix, Top Tier (acquired by SAP), World Wide Packets (acquired by Ciena) and TripIt (acquired by Concur), and have helped to generate billions of dollars of value in these companies for their entrepreneurs and investors. The Azure team is recognized for industry thought leadership, a broad network of powerful industry relationships, and a unique professional investment approach to venture investing. The team passionately supports its portfolio companies with active guidance in all key aspects of team building, strategy, operations, and governance.
About Alberta Enterprise: www.alberta-enterprise.ca
Alberta Enterprise promotes the development of Alberta's venture capital industry by investing in venture capital funds that finance early stage technology companies. Launched with a $100 million investment from the Government of Alberta, Alberta Enterprise focuses on funds that have a strong commitment to Alberta – including a full-time presence in the province. The organization also supports Alberta's venture capital ecosystem by connecting investors, entrepreneurs, and experienced technology executives who share our passion for building a bright, innovative Alberta. Visit www.alberta-enterprise.ca for more information.
About B.C. Renaissance Capital Fund: www.bcrcf.ca/BCRCF
The B.C. Renaissance Capital Fund Ltd. is a Crown corporation that is wholly owned by the B.C. Immigrant Investment Fund. The Renaissance Fund attracts successful venture capital managers and their capital to British Columbia to develop promising, innovative technology companies in the province. The fund was created to pursue investment in four key technology sectors: digital media, information technology, life sciences, and clean technology. To date, the Renaissance Fund has committed capital to eight venture capital fund managers based in the United States and Canada that have over $2 billion in capital under management for investment.
SOURCE: Azure Capital Partners
For further information:
Steve Gillan, Chief Financial Officer, Azure Capital Partners, [email protected]