Montreal, April 1st, 2021 – Cycle Capital, Canada’s most important cleantech venture capital firm, announces the appointment of Nicolas Sarganis-Bourdon as Communications Project Lead.
Before joining Cycle Capital, Nicolas was a marketing coordinator at Lune Rouge. He also worked as a freelancer with various SMEs for their communication and marketing needs.
“We are very happy to welcome Nicolas to the team. His experience in communication and digital marketing will allow us to promote our achievements, to make our portfolio companies and those of the Ecofuel Accelerator shine and to coach entrepreneurs in their digital presence strategies.” says Cycle Capital’s Founder and Managing Partner Andrée-Lise Méthot.
Passionate about entrepreneurship, international business and communications, Nicolas holds a bachelor’s degree in public relations and is currently pursuing a master’s degree in management, entrepreneurship, intrapreneurship and innovation at HEC Montréal. Interested in entrepreneurship, Nicolas founded a magazine dedicated to young professional lifestyle and local culture.
About Cycle Capital
Cycle Capital is an impact investor and the largest private cleantech venture capital investment platform in Canada with $ 0.5 billion under management. With offices in Montreal, Toronto and Qingdao, mainland China, and a presence in New York and Seattle, Cycle Capital invests across North America and China in growing and commercializing companies that have developed technologies aimed at reducing greenhouse gas emissions and optimizing resources and processes. Cycle Capital is the founder of the Ecofuel Accelerator and Canadian co-chair of the Beyond the Billion initiative – an international campaign to mobilize a consortium of investors who support female founders.
The BleuImpact Fund by Cycle Capital is a $ 15-20M seed/early stage venture capital fund dedicated to innovative technology companies in the water sector. For more information on Cycle Capital, visit www.cyclecapital.com .
Information
Catherine Berube
Vice-President, Sustainable Development, Investor Relations and Public Affairs [email protected]
MONTREAL, Feb. 16, 2021 – SPARK Microsystems, a fabless semiconductor company leading the way in ultra-low power, ultra-low latency wireless communications, announces the closing of a CDN$17.5 million equity financing to accelerate commercialization. Led by Cycle Capital, the round included new investors ND Capital (a Silicon Valley and Europe-based venture capital firm dedicated to disruptive technologies) and Export Development Canada, as well as existing investor Real Ventures and private investors. Proceeds will be used to fund high-volume manufacturing, sales ramp and expanded R&D for next generation products.
Industry veterans Dr. Sanjay K. Jha and Dr. Paul Jacobs reinvest in SPARK Microsystems Former Qualcomm CEO Paul Jacobs and former GlobalFoundries CEO Sanjay K. Jha, both reinvested in the company as part of the round.
Dr. Sanjay K. Jha is the former CEO of GlobalFoundries Inc., the second largest semiconductor contract manufacturer in the world. Prior to that, he was the Chairman and CEO of Motorola Mobility Inc., a role he held until the acquisition of the company by Google in 2012. Before Motorola, Sanjay worked at Qualcomm for 14 years, finishing his tenure there as the COO of Qualcomm, and President of Qualcomm CDMA Technologies (QCT), the CDMA & computing chipset and SW division of Qualcomm. Sanjay holds a PhD (ECS), and D.Sc (Hon) from the University of Strathclyde in Scotland, UK. In 2018, he was elected into the US National Academy of Engineering. He is an investor and board member of a number of private technology companies.
Dr. Paul E. Jacobs is the former CEO and executive Chairman of Qualcomm. During his tenure as CEO, Qualcomm’s revenues quadrupled and its market capitalization doubled. Dr. Jacobs is a prolific inventor with over 80 U.S. patents granted or pending in the field of wireless technology and devices. He is a board member of a number of private technology companies. He founded Berkeley’s Jacobs Institute for Design Innovation and was the university’s 2017 Alumnus of the Year. Dr. Jacobs is a member of the National Academy of Engineering and a Fellow of the American Academy of Arts and Sciences.
In conjunction with the financing, Cycle Capital’s Senior Partner Amit Srivastava also joins the Board of Directors. Earlier in his career, he led venture capital investments in the electronics sector at JP Morgan Partners and held key marketing and engineering management positions at Texas Instruments.
Recently, SPARK launched the SR1000 ultra-wide band (UWB) wireless transceiver ICs enabling a new class of short-range wireless connectivity applications including gaming peripherals and AR/VR headsets, smart home devices, and battery-less internet of things sensors. Within nine months after the launch announcement, SPARK Microsystems:
Shipped tens of thousands of pre-production units to multiple customers
Prototyped a next-generation wireless gaming hub with headset, mouse and keyboard in conjunction with a Tier 1 ODM partner
Sold over 70 evaluation kits to companies designing wireless AR, VR, IoT and positioning products
Delivered paid SoWs for advanced wireless products to multiple Fortune 100 companies
QUOTES “In just four years since the Ecofuel Acceleration program, SPARK Microsystems was able to deliver a revolutionary low-power wireless solution to customers,” said Andrée-Lise Méthot, Founder and Managing Partner of Cycle Capital and Chair of the Ecofuel Accelerator. “Cycle Capital invests in companies that have a meaningful impact on climate change. We believe that SPARK will not only enable battery-less networks and dramatically cut power consumption across a wide range of emerging wireless applications but also reduce electronic waste going to landfills.”
“We are excited by the rapid customer adoption of the SPARK solution,” said Sanjay Jha, former CEO, GlobalFoundries and active investor. “The company engaged with multiple customers who will deploy millions of wireless devices in the coming years. SPARK’s technology significantly extends battery life for various Industrial IoT and consumer electronics including AR/VR, gaming and audio applications – enabling for new functionalities as well as improved performance. This financing puts SPARK in a strong position to meet the volume production requirements of those customers.”
“We are very pleased to have received this strong financial backing from Cycle Capital, as well as new and existing investors,” said Fares Mubarak, CEO, SPARK Microsystems. “This funding, coupled with many years of outstanding technical and operational leadership from the new Board members will help accelerate the commercialization of our UWB transceiver products into high-volume production and better position us to execute our growth strategy and expand in key markets.”
“We are excited to see our dream of creating such a differentiated wireless technology to address many markets and expand the usability of wireless devices taking shape.” said Dr. Frederic Nabki, Cofounder and CTO, SPARK Microsystems.
About SPARK Microsystems SPARK Microsystems, a fabless semiconductor company, commercializes ultra-low power and ultra-short latency wireless platform for the Internet of Things revolution. The company was founded in 2016, now employs 40 people in Montreal and in the US, and anticipates doubling in size over the next 18 months including adding 15 sales and application engineers. SPARK Microsystems was elected one of the “10 Startups in the Spotlight” on the latest EETimes Silicon 100 list, received the 2019 Defense Innovation Award at TechConnect., and won the 2018 Nokia Open Innovation Challenge. For more info: sparkmicro.com
About Cycle Capital Management Cycle Capital Management is an impact investor and Canada’s leading cleantech venture capital investment platform with AUM (assets under management) of CDN$0.5 Billion. With offices in Montreal, Toronto and Qingdao – in continental China – and a presence in New York and Seattle, CCM invests throughout North America and China in growth stage companies that commercialize technologies that reduce greenhouse gas emissions, optimize resource use and improve process efficiency. Cycle Capital is the Founder of the Ecofuel Accelerator. For info: www.cyclecapital.com
For more information: Fares Mubarak CEO SPARK Microsystems [email protected] +1-925-998-7330
Catherine Bérubé VP Sustainability, Investor Relations and Public Relations Cycle Capital [email protected] +1-514-629-1022
Montreal, February 2nd , 2021 – Aqua Forum, the largest Canadian innovation platform dedicated to startups in the water sector and Cycle Capital’s BleuImpact Fund, the first impact investment fund in the water sector in Canada, are proud to announce a partnership aimed at accelerating the development and deployment of innovative start-ups in the water sector. The collaboration agreement between Aqua Forum and Cycle Capital’s BleuImpact Fund will consolidate the innovation ecosystem in the water sector in addition to allowing the emergence and development of practical solutions to pure water issues.
Aqua Forum, which supports the development of solutions in the water sector across Canada, has supported more than 25 start-ups over the past five years. These are developing technologies related to water quality such as the reduction of road salt and the prevention of cyanobacteria outbreaks in lakes, as well as the development of decision-making tools for water management, such as the reduction of micro plastics in drinking water, the elimination of invasive plants or the elimination of phosphates in the agricultural sector.
In order to further develop these companies, access to growth capital is essential. Therefore, the creation of the new BleuImpact investment fund in water technologies is becoming crucial.
“This strategic partnership will offer a “one-stop-shop” to: validate and qualify solutions, support young entrepreneurs in setting up their businesses, deploy technological showcases of their solutions in the municipal and industrial market, accelerate and invest in these solutions, up to their large-scale commercial deployment,” explains François de Gaspé Beaubien, Executive Chairman of Aqua Forum.
“We are very proud to be able to contribute to the massive green and blue recovery efforts of our various governments and trading partners. I am confident that under the leadership of our senior partner Simon Olivier, this collaboration will lead us to develop sustainable solutions that will be able to resolve pressing environmental issues”, declares Andrée-Lise Méthot, founder and Managing Partner at Cycle Capital.
“Thanks to the vision of the Gaspé Beaubien family, the source of inspiration behind Aqua Forum, and to this strategic partnership, entrepreneurs will now have access to the tools necessary to propel their solutions and thus create a positive impact on the environment, society and the economy,” says Simon Olivier, Senior Partner at Cycle Capital and Lead of the BleuImpact Fund.
About Aqua Forum
Aqua Forum is a non-profit organization that oversees the AquaHacking and Aqua Entrepreneur initiatives. The AquaHacking challenge is a vehicle that facilitates the emergence and creation of companies in water technology and Aqua Entrepreneur is a support program to incubate, test and validate solutions in water management. For more information, visit aquahacking.com/en/
About Cycle Capital
Cycle Capital is an impact investor and the largest private cleantech venture capital investment platform in Canada with $ 0.5 billion under management. With offices in Montreal, Toronto and Qingdao, mainland China, and a presence in New York and Seattle, Cycle Capital invests across North America and China in growing and commercializing companies that have developed technologies aimed at reducing greenhouse gas emissions and optimizing resources and processes. Cycle Capital is the founder of the Ecofuel Accelerator and Canadian co-chair of the Beyond the Billion initiative – an international campaign to mobilize a consortium of investors who support female founders. The BleuImpact Fund by Cycle Capital is a $ 15-20M seed/early stage venture capital fund dedicated to innovative technology companies in the water sector. For more information on Cycle Capital, visit www.cyclecapital.com .
Information
Laurence Basso
Communications Coordinator [email protected]
Catherine Berube
Vice-President, Sustainable Development, Investor Relations and Public Affairs [email protected]
Cycle Capital, Canada’s leading cleantech Venture Capital investment platform is recruiting! We are currently seeking a communications professional to join the team as Communications Project Lead. The candidate is bilingual (written and spoken French and English) with experience in development and execution of comprehensive communication strategies, event-planning and a good understanding of social medias. The Communications Project Lead will work closely with the firm’s Vice President Sustainability, Investor Relations and Public Affairs as well as Cycle Capital’s management team and the Ecofuel Accelerator team.
Description
Reporting directly to the Vice President Sustainability, Investor Relations and Public Affairs, the Communications Project Lead is responsible for the development and implementation of communications strategies to enable the realization of organizational objectives that are aligned with the mission and values of the firm and the accelerator.
Responsibilities
Develop and implement specific communications plans to support diverse internal and external activities of the firm and the accelerator;
Ensure the evolution and updates of websites and social media channels: e.g., LinkedIn, Twitter;
Design, direct, and diffuse a broad set of communications tools: e.g., annual report, presentations, press releases, etc.;
Plan, organize and manage events and activities;
Manage budgets for promotional and communications activities, as well as special events.
Coordinate communication activities and support team members with public appearances (draft notes, speeches, etc.)
Support the Vice President Sustainability, Investor Relations and Public Affairs with regards to communications with media and keep the media list updated;
Support portfolio companies and accelerated companies in terms of communications
Support the Vice President Sustainability, Investor Relations and Public Affairs with ecosystem representation
Requirements
Bachelor of communications, marketing, public relations or equivalent;
At least 3 years of experience in the field of communications;
Perfect mastery of written and spoken French and English;
Ability to adapt and manage and prioritize multiple concurrent projects;
Ability to work under pressure and deliver against tight timelines;
Understanding of the investment industry (ideal, but not required);
Experience with Microsoft Office and WordPress;
Knowledge and experience with social media: Twitter, LinkedIn, Instagram, Facebook
Key Skills
Excellent capacity, both written and oral, to express ideas clearly and efficiently
Excellent interpersonal skills and the ability to work with a diverse set of profiles, both internally and externally.
Initiative and creativity, and ability to solve complex, multi-faceted problems.
Conditions:
Salary: $50-60k, depending on experience
Montreal-based, with occasional travel
Please send your curriculum vitae by email before February 15 th to [email protected].
Please note that the applications will be kept confidential and that the ones that are best suited to the requirements will be contacted.
Montreal and Toronto, December 18, 2020 – Cycle Capital, Canada’s leading private cleantech venture capital firm, is proud to announce the addition of Export Development Canada (EDC) as new Limited Partner and the final closing of Cycle Capital IV Fund at $145 million. With EDC, Cycle Capital reaches $0.5 billion in assets under management.
Numerous financial partners
Export Development Canada joins respected institutional and strategic investors including Investissement Québec, Teralys Capital, Fonds de solidarité FTQ, Fondaction, Business Development Bank of Canada, Suez, Rio Tinto, Innergex Renewable Energy, Hydro-Québec, Vancity Financial Cooperative, McConnell Foundation, Trottier Family Foundation, La Capitale Insurance and Financial Services, Concordia University, several private investors as well as Cycle Capital’s managers.
“At Cycle Capital, we support the talent of our cleantech entrepreneurs so that they can scale on and contribute to fight climate change. We are proud to welcome EDC as new LP, already a great partner of Cycle Capital, to support even more portfolio companies including a lot of female-led businesses at the commercialization stage reach international markets,” said Cycle Capital Founder and Managing Partner Andrée-Lise Méthot.
“Cycle Capital has an established track record for supporting female-led and founded businesses, and EDC’s commitment to this female-founded and co-led fund will support our Women in Trade Investments Program mandate to encourage greater representation on both sides of the investor/entrepreneur table. We have had the pleasure to work with the team at Cycle Capital on multiple co-investments and share the vision that EDC’s customer focused solutions can help further accelerate their growth” says Jennifer Cooke, Manager of Women in Trade at Export Development Canada.
In the past year, Cycle Capital has partnered with EDC on three cleantech direct investments through EDC’s matching program. EDC’s investment in the Cycle Capital IV Fund aligns with its progressive trade strategy, which outlines initiatives to support historically underrepresented groups within the trade environment, including women-led businesses.
Cycle Capital Fund IV
Cycle Capital Fund IV is investing across North America, with a primary focus on Canada, in key technology sectors such as energy storage and efficiency, green chemistry, clean transportation and smart city technologies, Green IoT, Big Data & AI and agtech. As one of the few gender-balanced women-founded VC funds, Cycle Capital is convinced that diversity and inclusion are the drivers of better performances.
Since its initial closing in 2019, Cycle Capital Fund IV has already made 4 investments in leading Canadian and US-based cleantech companies including Bus.com, Vutiliti and Rhombus.
About Cycle Capital Management
Cycle Capital is an impact investor and Canada’s leading private cleantech venture capital investment platform with AUM (assets under management) north of $0.5B. With offices in Montreal, Toronto and Qingdao – in continental China – and a presence in New York and Seattle, Cycle Capital invests in companies at the development and growth stages that commercialize clean technologies that reduce greenhouse gas emissions, optimize resource use and improve process efficiency throughout North America and China. Cycle Capital is the Founder of the Ecofuel Accelerator, Canada Co-Lead of “Beyond the Billion” – a global pledge campaign aimed at mobilizing a global consortium committed to invest in women founders.
Cycle Capital brings together seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. The firm has many industrial partners such as Suez, Rio Tinto, Hydro-Québec, Brookfield, Innergex Renewable Energy, Énergir, Cascades, Lonza, Aluminerie Alouette, Qingdao City Construction Investment Group and impact investors including Vancity Credit Union, McConnell Foundation, Trottier Family Foundation and few family offices. For more information on Cycle Capital, visit: www.cyclecapital.com .
About EDC
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business. To help Canadian businesses facing extreme financial challenges brought on by the global response to COVID-19, the Government of Canada has expanded EDC’s domestic capabilities until December 31, 2021. This broader mandate will enable EDC to expand its support to companies focused domestically. For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit edc.ca.
For more information:
Catherine Bérubé
Vice President, Sustainable Development, Investor Relations and Public Affairs
Cycle Capital [email protected]
+1 514 629-1022
Montreal, November 30, 2020 – Cycle Capital, Canada’s most important private cleantech venture capital investment firm, announces the launch of a new water tech impact fund, the BleuImpact Fund, and the appointment of Simon Olivier as Senior Partner to spearhead the initiative on the platform. Focused on innovative water technology companies, the BleuImpact Fund is a seed/early-stage venture capital fund with a target size of $15-20M.
“Water is a finite natural resource unlike any other, which is critical for life itself and for almost every natural and industrial process on the planet. Increasing water pollution, exploitation and waste present evolving risks for our society, our health and our economy. The good news is that an increasing number of startups are developing technologies to solve water-related problems, yet they lack access to venture capital to fund their growth. With BleuImpact we intend to accelerate innovation in the water industry to develop, implement and scale solutions to water problems. Simon’s unique set of expertise in clean technology and innovation is very valuable for our team,” says Cycle Capital’s Founder and Managing Partner Andrée-Lise Méthot.
“Water has absolutely no economic substitute, whatever its price. Yet, paradoxically, water remains undervalued, wasted and polluted. Deploying venture capital to fund innovation in the water sector is the biggest opportunity for Quebec and Canada to create sustainable wealth, for the benefit of its citizens, its environment, and its economy,” says Simon Olivier, Senior Partner & Head of the BleuImpact Fund at Cycle Capital.
Simon Olivier is an executive Leader with an international track record in innovation, strategy, entrepreneurship and financial services. Simon worked with Fortune 500, medium-sized businesses, coop and startups across various industries; all related to social development such as Energy, Water, Healthcare, Finance and Food. Career highlights include; largest asset-based financial deal for GE Capital in Canada (2000), pioneer of GE’s renewable business (wind ,solar, biomass) by building a multi-billion-dollar franchise (2003-2012), head of GE’s business development (M&A, GE Ventures) in Canada (2012-2016) and launched a $40M co-investment partnership between Agropur Coopérative and Caisse de dépôt et placement du Québec to invest in innovative dairy startups (2018).
Simon holds an engineering degree from Polytechnique Montreal and an MBA in finance from McGill University where he is a member of the McGill Global Leadership Council. In 2009, he was named Quebec’s young international leader (Arista).
About Cycle Capital
Cycle Capital Management (CCM) is an impact investor and Canada’s largest cleantech venture capital investment platform with AUM (assets under management) close to $0.5B. With offices in Montreal, Toronto and Qingdao – in continental China – and a presence in New York and Seattle, CCM invests in companies at the development and growth stages that commercialize clean technologies that reduce greenhouse gas emissions, optimize resource use and improve process efficiency throughout North America and China. CCM is the Founder of the Ecofuel Accelerator and the Co-Founder of the Ecofuel Fund.
Cycle Capital brings together seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. The firm has many industrial partners such as Suez, Rio Tinto, Hydro-Québec, Brookfield, Innergex Renewable Energy, Énergir, Cascades, Lonza, Aluminerie Alouette, Qingdao City Construction Investment Group and impact investors including Vancity Credit Union, McConnell Foundation, Trottier Family Foundation and few family offices. For more information on Cycle Capital, visit: www.cyclecapital.com .
Info Catherine Bérubé Vice President, Sustainability, Investor Relations and Public Affairs [email protected] +1 514 629-1022
Together with Beyond the Billion, Cycle Capital and Loyal VC are joining forces to mobilize LPs and GPs across Canada and advance efforts to close the gender funding imbalance
Investissement Québec becomes the first institutional fund to join the initiative and confirm its commitment to women entrepreneurs and business leaders
November 16, 2020 (Toronto, Montreal) — Driven by the rapid success achieved in its first eight months in mobilizing capital to reach its global goal of US$1bn of venture fund pledges towards women-founded companies, Beyond the Billion, along with its Canadian partners, Cycle Capital Management and Loyal VC, join hands to extend efforts driven by The Billion Dollar Fund for Women (TBDFW). The launch of the Beyond the Billion (BTB) initiative is the next phase to build on TBDFW’s initial momentum for tackling the gender funding gap.
Andrée-Lise Méthot, Founder and Managing Partner, Cycle Capital Management highlighted, “According to Pitchbook, in 2019, less than 3% of global venture funding went to all-women teams, and only 12% to gender-diverse teams[1]. Throughout the growth of Cycle Capital, we have always striven to further the cause of female entrepreneurs; we are aware it is not a deal flow issue and we leverage our diversity around the investment table[2]. Now with Beyond the Billion and Loyal VC, we have an opportunity to find other like-minded partners and harness support across Canada to make a pledge and join the consortium. We are mobilizing existing venture funds and limited partner investors to work together towards a common global goal — catalyze capital to scale women-founded companies in a sustainable manner.”
“Many investors aren’t aware that the standard pitch process is biased against women founders”[3] stated Kamal Hassan, Co-Founder and Managing Partner, Loyal VC. “This is a factor as to why so few female entrepreneurs receive funding though they represent 28% of all founders in Canada. This is true despite the fact that women who do get funded tend to achieve better financial returns[4]. BTB is not just about gender fairness, it is also an opportunity for venture funds that invest in women, as well as the limited partner investors into these funds, to achieve improved results.”
Beginning in 2020, Beyond the Billion expanded its outreach to target both General Partners (GPs) and Limited Partners (LPs). BTB will facilitate connections for GPs seeking to gender-diversify their portfolios to LPs committed to mobilizing their funds behind such GPs who invest in women-founded companies. These connections will assist LPs to achieve their goal of driving more capital to women founders. As they fulfill their pledges, and the combined group purpose, they will deliver larger pools of capital for venture investments.
Investissement Quebec and Teralys, first LPs to join Beyond the Billion
Investissement Québec and Teralys become the first Canadian investors to directly support BTB to propel impact towards conquering the gender funding imbalance.
Investissement Québec, a government corporation that plays an active role in Québec’s economic development providing creative solutions for businesses, is the first Canadian institutional investor to join the initiative.
Consistent with its Strategic Plan 2020-2023, it commits to further support and fund even more women-led or owned businesses. The intent is to raise the number of women-led businesses as a proportion of all client businesses currently receiving financing to 18% of the total.
“Investissement Québec is proud to partner with the initiative Beyond the Billion to contribute to the development of women-led or women-owned businesses. We know that only 16% of Quebec SMEs are predominantly owned by women and that these female entrepreneurs are often facing more barriers then men when seeking funding. We are determined to help talented female leaders achieve their ambitions by collaborating with others ecosystem partners that want to facilitate access to capital to women entrepreneurs,” said Guy LeBlanc, President and CEO of Investissement Québec.
“Teralys Capital, Canada’s largest innovation-focused investor, is committed to supporting and scaling the number of women-led companies and venture capital funds in Canada. As limited partner and investor, we have an integral role to play in fostering greater female representation in our industry, within funds and portfolio companies. As such, Teralys has made gender diversity an equally weighted pillar when assessing new opportunities, along with integrating gender-related reporting requirements from our fund managers. We are proud to partner with Beyond the Billion and ecosystem partners to propel this goal forward.” said Cédric Bisson, Partner, Teralys.
“The leadership of our Canadian fund partners in both pledging and now deploying capital to women innovators is a testament to the fact that they know that investing in women is good business. Since we launched TBDFW in 2018, 18 Canadian-based venture funds pledged significantly toward our achieving our $1bn goal and we are confident that they will fulfill their pledges as we round out the year.” said Shelly Porges, Co-Founder and Managing Partner of Beyond the Billion and The Billion Dollar Fund for Women.
“With Cycle Capital and Loyal VC now taking on the role of Canadian co-leads in support of this global initiative, we would like to also offer a heartfelt thank you to Lally Rementilla, in her role as CEO of Quantius (now Managing Partner, IP-Backed Financing at BDC) for her energy and leadership in helping us successfully launch TBDFW in Canada. We are grateful for the leadership provided by both Cycle Capital and Loyal VC and for their on-going dedication to supporting women founders; opening access to capital will be instrumental to our success in closing the venture funding gender gap.”
Gaining commitment from venture partners and investors will be a solid step forward in supporting great women founders. Studies have shown that businesses founded by women deliver more than twice as much revenue per dollar invested[5]. With Canada’s goal of doubling the number of women entrepreneurs by 2025[6], the investments made by Canadian partner funds will be more important than ever to ensure the success of these early-stage ventures and showcase Canadian diversity best-practices globally.
Individuals, family offices, institutions, and venture funds can learn more about Beyond the Billion from the Founders of The Billion Dollar Fund for Women, seek information regarding how to participate, and view the global list of current VC participants committed to catalyzing capital at www.beyondthebillion.com.
Current Canadian Pledgors: The Billion Dollar Fund for Women (TBDFW) & Beyond the Billion (BTB)
Alate Partners
Amplify Capital (MaRS Canada)
BCF Ventures
Cross Border Impact Ventures
Cycle Capital
Disruption Ventures
Dream Maker Ventures
Ecofuel Fund
Grand Challenges Canada
Investissement Québec
Loyal VC
Marigold Capital
MEDTEQ
Quantius
Raiven Capital
Redd’s Capital
StandUp Ventures
Teralys Capital
Valhalla Capital
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ABOUT BEYOND THE BILLION
Beyond the Billion™(BTB), from the Founders of The Billion Dollar Fund for Women™ was founded to address the venture investment gap where women-founded teams receive less than 3% of total VC funding. After mobilizing a global consortium of venture funds committed to investing $1Bn in women-founded companies in less than a year from over 80 funds globally, BTB’s mission is now to catalyze the larger landscape of capital. BTB is committed to ensuring the continued capacity to invest in women-founded companies by bridging venture funds and limited partner investors. These include institutional investors such as endowments, foundations, international financial institutions and development financial institutions; as well as strategic corporates, family offices, wealth managers and high net worth individuals to drive the agenda and capital, collectively. www.beyondthebillion.com
ABOUT CYCLE CAPITAL
Cycle Capital Management is an impact investor and Canada’s largest cleantech venture capital investment platform with AUM (assets under management) close to $0.5B. With offices in Montreal, Toronto and Qingdao – in continental China – and a presence in New York and Seattle, Cycle Capital invests in companies at the development and growth stages that commercialize clean technologies that reduce greenhouse gas emissions, optimize resource use and improve process efficiency throughout North America and China. Cycle Capital is also the Founder of the Ecofuel Accelerator and the Co-Founder of the Ecofuel Fund.
Cycle Capital brings together seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. The firm has many industrial partners such as Suez, Rio Tinto, Hydro-Québec, Brookfield, Innergex Renewable Energy, Énergir, Cascades, Lonza, Aluminerie Alouette, Qingdao City Construction Investment Group and impact investors including Vancity Credit Union, McConnell Foundation, Trottier Family Foundation and few family offices. For more information on Cycle Capital, visit: www.www.cyclecapital.com
ABOUT LOYAL VC
Loyal VC operates a global startup index fund with over 125 investments across more than 30 countries. The fund is designed to minimize systemic bias inherent in the investment process, unlocking greater returns. With its collaborative, staged investment process, its network of over 300 global advisors, and its global relationships with the world’s largest pre-seed accelerator, Founder Institute, and the #1 non-US business school for unicorn founders rated by Pitchbook, INSEAD, the Loyal Startup Index Fund has delivered strong returns since its launch in 2018. The fund’s portfolio is diverse across a number of dimensions: more than 30% of portfolio company CEOs are female, nearly 30% are from emerging markets, and 80% are leveraging technology to address one or more of the UN Sustainable Development Goals. Learn more at: www.loyal.vc
Investissement Québec’s mission is to play an active role in Québec’s economic development by spurring business innovation, entrepreneurship and business acquisitions, as well as growth in investment and exports. Operating in all the province’s administrative regions, the Corporation supports the creation and growth of businesses of all sizes with investments and customized financial solutions. It also assists businesses by providing consulting services and other support measures, including technological assistance available from its CRIQ business unit. In addition, through Investissement Québec International, the Corporation also prospects for foreign investment and assists businesses with export activities.
Emerald, Cycle Capital, İnci, Nabtesco, Greenhouse invest in Advanced Power Conversion Innovator
Rhombus Energy Solutions, Inc., a leading developer and manufacturer of high-efficiency power conversion systems for electric vehicle fleet charging, energy storage and microgrid applications, announced today that it has closed a Series C financing round from a global syndicate of advanced energy investors lead by Emerald Technology Ventures. The syndicate also included Cycle Capital Management, İnci Holding, Nabtesco Technology Ventures, Greenhouse Capital Partners and existing shareholders. Emerald Technology Ventures Partner Markus Moor and Cycle Capital Management Founder and Managing Partner Andrée-Lise Méthot will join Rhombus’ Board of Directors.
Rhombus develops and manufactures a line of UL 1741-SA certified bi-directional chargers for Vehicle-to-Grid (V2G) applications that are utilized by electric vehicle (EV) fleets and charging network operators. Similarly, Rhombus UL 1741-SA certified smart inverters are preferred equipment in commercial and industrial building solar energy and energy storage solutions, where they enable behind-the-meter peak shaving and building-to-grid power transfer.
“Emerald sees high-power EV charging, and particularly Vehicle-to-Grid (V2G) EV charging, as promising means to both reduce energy costs for EV fleets and to provide energy to the utility grid during peak demand hours,” said Markus Moor, Partner at Emerald Technology Ventures. “The Rhombus team has the expertise and technology to provide industry-leading solutions in this fast-growing and important market. The Company has demonstrated this leadership through the success of its products in a variety of demanding EV fleet deployments.”
“Cycle Capital invests in companies that will have a meaningful impact on climate change. We believe that Rhombus is well positioned to enable this transition as a leader in the electric vehicle charging space for commercial fleets. Not only does the Company offer one of the most robust charging solutions with vehicle-to-grid capability for high power applications, the management team has extensive experience and they are widely recognized as leaders and innovators in the power sector,” said Andrée-Lise, Founder and Managing Partner of Cycle Capital.
“We are very pleased with the integrity of the firms and the shared commitment of the syndicate,” said Rick Sander, President and CEO of Rhombus. “With the new investment, Rhombus will continue to scale its team and operations to accelerate product development, expand sales and marketing reach and fulfil the needs of its fast-growing customer base. The EV market is expected to grow exponentially over the next several years as commercial fleets take advantage of its value proposition to reduce energy costs. The expertise of the Rhombus team in the field of high-power smart inverters and V2G-capable EV chargers has enabled the company to ship over 800 systems worldwide into the most demanding environments.”
About Rhombus Energy Solutions
Rhombus develops and manufactures next-generation bi-directional electric vehicle charging infrastructure, high-efficiency power conversion systems and energy management system (EMS) software for vehicle-to-grid (V2G) capable electric vehicle fleet charging, energy storage and microgrid applications. The high reliability of our solutions is the result of decades of experience developing high-power systems for a variety of applications and deployment scenarios, including UL-1741-SA system-to-grid solutions.
With foundations laid by Cevdet İnci 68 years ago, İnci Holding today employs 3,000 people in nine companies, mainly in the automotive sector. As well as manufacturing batteries and wheels for the automotive supplier industry, İnci Holding also produces minibars for the hotel equipment sector, and is active in logistics and the venture capital ecosystem. The group’s social responsibility activities are undertaken by the Cevdet İnci Education Foundation. The İnci Group supplies global giants, exporting 70% of its output to over 100 countries. A family business run on corporate governance principles, İnci Holding’s continued development contributes to the Turkish economy. http://www.inciholding.com/en
About Cycle Capital Management
Cycle Capital Management is an impact investor and Canada’s largest cleantech venture capital investment platform with AUM (assets under management) close to CAD 0.5 billion. With offices in Montreal, Toronto and Qingdao – in continental China – and a presence in New York and Seattle, CCM invests in companies at the development and growth stages that commercialize clean technologies that reduce greenhouse gas emissions, optimize resource use and improve process efficiency throughout North America and China. Cycle Capital is also the Founder of the Ecofuel Accelerator and the Co-Founder of the Ecofuel Fund.
Nabtesco Technology Ventures (NTV) is a corporate venture fund launched in 2018 by Japan’s Nabtesco Corporation. NTV’s goal is to explore new technologies, applications and business models in areas of strategic interest to Nabtesco Corporation, such as Rhombus’ advanced power electronics products for electrical energy conversion and control. The EUR 75 million fund invests primarily, but not exclusively, in mobility, robotics, motors, sensors, additive manufacturing, artificial intelligence, and Internet of Things technologies. NTV evaluates and manages equity investments and joint development projects with start-up companies around the world. Investment activities are managed under strategic partnership with Emerald Technology Ventures, a global leader in technology venture capital.
About Greenhouse Capital Partners
Greenhouse Capital Partners is a growth capital firm investing in companies with established business models promoting health and sustainability within the areas of Food, Agriculture, Industrials and the Environment. The firm believes that an economic revolution is underway, powered by technology and simultaneously shaped by evolving system needs, that is rapidly changing the way we produce, move, consume and preserve goods and natural resources. Greenhouse is at the forefront of investing in this wave of change and partners with values driven teams building solutions to help make the world more resourceful and resilient.
Emerald is a globally recognized investment firm and strategic innovation partner, with offices in Zurich, Toronto and Singapore. Founded in 2000, it has raised five venture capital funds, completed over 400 venture investments in 67 emerging industrial technology leaders and managed five third-party investment mandates, including for the governments of Switzerland and Singapore. Emerald is a trusted open innovation partner for numerous multi-national corporations, leveraging deep industry expertise and rich global deal flow in the areas of energy, water, industrial IT, advanced materials, mobility, robotics, and agriculture.
Cycle Capital, Canada’s largest clean technology venture capital investment platform, is proud to announce new closings of Capital Fund IV, drawing in commitments from La Capitale Insurance and Financial Services, Concordia University, few family offices and private investors. They are joining LPs from the initial closing including Teralys Capital, Fonds de solidarité FTQ, Fondaction, Suez, Hydro-Québec, Innergex Renewable Energy, McConnell Foundation, Rio Tinto, Vancity Credit Union and Trottier Family Foundation. The Fund IV also received a $20M participation from the federal government’s Venture Capital Catalyst Initiative (VCCI), announced in 2019.
“I’m thrilled that, with the help of our government, Cycle Capital will be investing in clean tech start-ups from coast to coast to coast. This will allow these businesses to grow into innovative global champions for combatting climate change and will lead to new jobs and opportunities for Canadians. Through our Venture Capital Catalyst Initiative, we will continue to support diverse industries and entrepreneurs doing excellent work in the clean tech sector.”
– The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade
“La Capitale is proud to join the Cycle Capital Fund IV and to invest in the development of clean technologies in Quebec and in Canada. We are convinced that a greener future will be made possible through innovative clean solutions, and we are honored to take part in achieving this goal.”
– Jean St-Gelais, Chairman of the Board and Chief Executive Officer at La Capitale Insurance and Financial Services
“We are proud to be investing in this clean technology fund. For the Concordia Foundation, this is part of our larger strategy to increase responsible and sustainable investments, in line with Concordia University’s values and policies.”
– Marc Gauthier, Concordia University Treasurer & Investment Officer.
“Our approach to curate the best cleantech ideas and help them scale into innovative global leaders while at the same time providing high returns, drew commitments from both long-standing and new Limited Partners. The combination of these forward-thinking investors will enable us to drive growth in some of the top innovative cleantech companies.”
– Andrée-Lise Méthot, Cycle Capital’s Founder and Managing Partner.
Cycle Capital Fund IV is investing across North America, with a primary focus on Canada, in key technology sectors such as energy storage and efficiency, green chemistry, clean transportation and smart city technologies, Green IoT, Big Data & AI and agtech. As one of the few gender-balanced women-founded VC funds, Cycle Capital is convinced that diversity and inclusion are the drivers of better performances.
Cycle Capital Management
Cycle Capital Management (CCM) is an impact investor and Canada’s largest cleantech venture capital investment platform with AUM (assets under management) close to $0.5B. With offices in Montreal, Toronto and Qingdao – in continental China – and a presence in New York and Seattle, CCM invests in companies at the development and growth stages that commercialize clean technologies that reduce greenhouse gas emissions, optimize resource use and improve process efficiency throughout North America and China. CCM is also the Founder of the Ecofuel Accelerator and the Co-Founder of the Ecofuel Fund.
Cycle Capital brings together seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. The firm has many industrial partners such as Suez, Rio Tinto, Hydro-Québec, Brookfield, Innergex Renewable Energy, Énergir, Cascades, Lonza, Aluminerie Alouette, Qingdao City Construction Investment Group and impact investors including Vancity Credit Union, McConnell Foundation, Trottier Family Foundation and few family offices. For more information on Cycle Capital, visit: www.cyclecapital.com .
About Venture Capital Catalyst Initiative
Venture Capital Catalyst Initiative (VCCI) is a $450 million Federal government program backed by the Government of Canada to strengthen the local venture capital ecosystem, and help Canadian companies scale. VCCI Stream 1 invested in large funds-of-funds that will support Canadian VC fund managers, while VCCI Stream 2 invested in emerging and diverse managers, underserved regions and sectors, and alternative fund structures. VCCI Stream 3 invested in VC funds investing primarily in clean technology firms. Read more: http://www.ic.gc.ca/eic/site/061.nsf/eng/h_03052.html
About La Capitale
La Capitale Insurance and Financial Services, created in 1940, has a strong presence across Quebec and throughout Canada. With over 2,686 employees and guided by the values of mutualism on which it was founded, La Capitale works with clients to build, protect and value what they feel counts for their financial security. It offers insurance products and financial services to the general public as well as to Quebec public service employees. With assets of $7.4 billion, La Capitale occupies a choice position among leading insurers in Canada.
About Concordia University
Concordia University, located in Montreal, was ranked first in Canada among universities founded or established in the last 50 years according to the 2019 Quacquarelli Symonds “Top 50 Under 50” Rankings. www.concordia.ca
Info
Catherine Bérubé
Vice President, Sustainability, Investor Relations and Public Affairs [email protected]
+1 514 629-1022
Montreal, July 8, 2019 – Cycle Capital, Canada’s most important cleantech venture capital firm, announces the appointment of Ariane Cloutier as Director of Finance and Gary Berdowski as an analyst.
« We are very happy to have Ariane and Gary join us at Cycle Capital. Already well integrated, Ariane is drawing from her knowledge of VC and Gary from his experience in industrial manufacturing. They’re a great addition to our growing and diverse team », adds Andrée-Lise Méthot, Founder and Managing Partner
Ariane spent 7 years at KMPG as an auditor, where she worked with clients in asset management, private investment and renewable energies. During her time there, she took on many other roles including university recruiter and instructor. Ariane moved on to be Director of Finance for a growth capital venture capital fund. At Cycle, she prepares financial statements and assists with administrative and accounting procedures.
A certified accountant (CPA, CA) since 2013, Ariane has a bachelor’s degree in business administration and a specialized graduate diploma (DESS) from HEC Montréal.
Gary has worked in the industrial manufacturing field for over 7 years at Velan, as part of their Engineering and Strategic Planning departments. Most recently, as a Strategic Analyst, he was responsible for building and maintaining the company’s five-year plan for senior management and the board of directors. In the last year, Gary helped develop a company-wide product line profitability model to help with critical business investment decisions. With his experience at Velan, he will provide an expertise in industrial activities, process & design optimization and Industrial IoT (IIoT).
Having successfully completed all three CFA exams, he is currently in the process of obtaining the Chartered Financial Analyst designation. He holds a bachelor’s degree in Mechanical Engineering from McGill University and an MBA from Concordia University.
