Press Release (ePRNews.com) - CALGARY, Alberta - Jan 22, 2016 - AVAC Ltd (http://www.avacltd.com/) announced today their investment as a Limited Partner (LP) in iNovia Investment Fund 2015, a $175M new early stage IT venture capital fund led by iNovia (http://www.inovia.vc/) Capital.
This marks AVAC’s sixth investment as an LP in a venture capital fund, and the third time they have participated in an iNovia round.
“AVAC has been a cornerstone Limited Partner through all three iNovia funds over nearly a decade, has contributed tremendously to our governance, and we’ve worked well together on mutual portfolio companies,” said Shawn Abbott, Managing Partner at iNovia Capital. “We continue to seek new ways of working together as iNovia pursues its aspiration to be a founder’s most trusted and accessible partner from idea to exit.”
AVAC is joining key North American institutional LPs as investors and will participate in the Limited Partner Advisory Committee. Other investors include several investment companies, institutions, family offices, as well as a dozen founders of iNovia-backed portfolio companies.
“While investment returns are a first priority, our relationship with the iNovia team has allowed us to monitor and evaluate many other performance and management elements that have afforded us the confidence to continue our participation with iNovia,” says Warren Bergen, President of AVAC. “This is a heads-up team working in a constant state of evaluation of their investments, their markets and of themselves. We are proud to be invested with a team that is always looking to better their business.”
With the close of iNovia Investment Fund 2015, iNovia has established side-car funds that will facilitate one-off investments by LPs. The larger capital pool allows portfolio companies to be funded with more substantial follow-on rounds.
To learn more about iNovia Capital and iNovia Investment Fund 2015, please visit www.inovia.vc. To learn more about AVAC Ltd, please visit www.avacltd.com.
Notes to Editors:
About AVAC Ltd:
AVAC Ltd is an investment company with over 16 years of experience in financing early-stage innovative business opportunities and providing both capital and other value-added services to grow commercial business successes. AVAC invests in promising ventures in value-added agri-business, information and communications technologies, and other industrial technology sectors. AVAC also manages an active early-stage venture capital fund-of-funds investment pool and the Accelerate Fund, an angel co-investment fund. Find out more: www.avacltd.com & www.acceleratefund.ca
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 $450M and invests in North America. For more information, visit www.inovia.vc.