Inovia Capital has held the closing of its second growth fund with USD450 million in committed capital.
The fund, which saw strong support from existing and new investors, will invest in tech-focused growth-stage companies in industries such as financial services, healthcare, commerce, the future of work, and travel. The closing of this fund brings Inovia’s total capital under management to over USD1.5 billion.
Growth Fund II is built on the proven track record of our first growth fund, a USD400 million fund announced in February of 2019, and will continue investing in innovative, globally-minded companies primarily in Canada, but also in our growing US and EU networks. In addition to providing venture and growth capital across all stages of a company’s development, Inovia truly differentiates itself by supporting its founders with a hands-on, operator-led approach.
Since launching Growth Fund I, Inovia has invested in category-leading companies such as Lightspeed, AppDirect, Sonder, Hopper, AlayaCare, WorkJam, Forward, Snapcommerce, and Symend.
The new growth fund is spearheaded by the same Partners: Chris Arsenault, Dennis Kavelman, and Patrick Pichette.
Read more at Private Equity Wire
