Cycle Capital and EnerTech launch two new sector-focused funds in Montréal totaling $250 million in additional capital available to Québec entrepreneurs
MONTREAL, July 4, 2013 /CNW Telbec/ - Teralys Capital is proud to announce a $50 million investment in the emerging sector of clean technologies in Québec. This commitment enables the closing of two new venture capital funds totaling $250 million in additional capital now available to Québec entrepreneurs. Teralys Capital invests respectively $25 million with Cycle Capital Fund III, L.P. ("Cycle Capital III") and $25 million in EnerTech Capital Partners IV, L.P. ("EnerTech IV").
Cycle Capital III will invest in energy efficiency, green agriculture and chemistry, industrial applications, transportation, clean energy and fuel, and waste upgrading and transformation. Cycle Capital favours projects with the highest performance that help improve process efficiency. This new fund adds to Cycle Capital's existing investment platform, thus positioning the group with an exhaustive financing offer to support the launch of cleantech business ventures at the seed and startup phases.
EnerTech Capital IV will remain focused on investing primarily in early to growth stage companies that offer products or services that dramatically improve the profitability of producing or consuming energy, whether fuel or electricity, alternative or traditional. EnerTech Capital, a leading North American investment firm founded in 1996, recently opened a Montréal office in 2012, attesting to Québec's leading-edge innovations in the energy sector.
Cycle Capital and EnerTech have built specialized teams with deep domain knowledge in cleantech and energy. In order to accelerate the growth of exceptional cleantech companies, both groups also benefit from a strong network of industrial partners bringing value-added expertise, including: Aluminerie Alouette, Gaz Métro, GDF Suez, Hatch, Hydro-Québec, Lonza, Newalta, Systemex Energies, and many others.
"Through their sector-focused approach, international reach and privileged access to industrial partners in the cleantech and energy sectors, Cycle Capital and EnerTech can enable the rapid progression of new leading businesses in Québec", stated Jacques Bernier, Managing Partner, Teralys Capital.
These two new investments are consistent with Teralys Capital's strategy aimed at building a strong venture capital ecosystem that propels high-potential innovative companies in Québec. As with every Teralys Capital portfolio fund, these financial commitments will be entirely reinvested in local Québec companies. Teralys Capital has financed 14 sector-focused funds since its launch, which total over $1.6 billion in financing now accessible to Québec entrepreneurs. These funds cover every investment phase from startup financing to growth and expansion capital, offering local innovative technology companies the capital and expertise required at every stage of their development.
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 $700 million in capital commitments from Caisse de dépôt et placement du Québec, the Fonds de solidarité FTQ 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 Cycle Capital
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 Québec 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 Hydro-Québec. For more information, visit www.cyclecapital.com.
About EnerTech Capital
EnerTech Capital is one of North America's first and foremost all-energy investment firms. We invest in early to growth stage companies that offer products or services that dramatically improve the profitability of producing or consuming energy. Whether fuel or electricity, alternative or traditional, we help create companies that make energy more efficient, reliable, and cost-effective. Since our founding in 1996, we have managed approximately $450 million and we have delivered 31 exits. We are currently investing out of our fourth fund and have offices in Philadelphia, Montréal, Toronto and Calgary. For more information, visit www.enertechcapital.com.
SOURCE: Teralys Capital
For further information:
Cycle Capital Management
Director of communications