{"id":7104,"date":"2019-02-11T17:41:02","date_gmt":"2019-02-11T22:41:02","guid":{"rendered":"https:\/\/cyclecapital.creatures.ca\/2019\/02\/11\/cycle-capital-announces-first-close-for-new-109m-fund\/"},"modified":"2019-02-11T17:41:02","modified_gmt":"2019-02-11T22:41:02","slug":"cycle-capital-announces-first-close-for-new-109m-fund","status":"publish","type":"post","link":"https:\/\/cyclecapital.com\/en\/2019\/02\/11\/cycle-capital-announces-first-close-for-new-109m-fund\/","title":{"rendered":"Cycle Capital announces first close for new $109M Fund"},"content":{"rendered":"\n

The Fund will focus on growth stage innovative cleantech companies<\/strong><\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Montreal and Toronto, Monday, February 11, 2019<\/strong> \u2013 Cycle Capital, Canada\u2019s largest clean technology venture capital investment platform, announced the first close of its new Fund, Cycle Capital Fund IV, LP. The announcement was made by Andr\u00e9e-Lise M\u00e9thot, Founder and Managing Partner of Cycle Capital, alongside Pierre Fitzgibbon, Quebec\u2019s Minister of Economy and Innovation and the fund\u2019s sponsors. <\/p>\n\n\n\n

The Government of Quebec is contributing $50 million\nthrough its authorized representative, Investissement Qu\u00e9bec. The other\ninvestors are Teralys Capital, Fonds de solidarit\u00e9 FTQ, Fondaction, Suez,\nHydro-Qu\u00e9bec, Innergex Renewable Energy, McConnell Foundation, Rio Tinto, Vancity\ncredit union, Trottier Family Foundation, several individuals and Cycle Capital\nmanagers.<\/p>\n\n\n\n

Cycle Capital Fund IV will target innovative cleantech companies. The fund will invest across North America, with a primarily 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. <\/p>\n\n\n\n

\u201cThe\nenvironment and clean technologies industry play a significant role in the\nQu\u00e9bec economy. By participating in the capitalization of the Cycle Capital\nFund IV, the government is confirming its commitment to an approach aimed at\nmaking Qu\u00e9bec more efficient, more innovative and greener. Such participation\nwill foster business growth in Qu\u00e9bec and the marketing of our innovations in a\nhealthy environment,\u201d Minister of Economy and Innovation Pierre Fitzgibbon\nnoted. <\/p>\n\n\n\n

\u201cAs a long-standing strategic\npartner for Cycle Capital, Rio Tinto is pleased to renew its\nsupport through this latest fund. This is one of the many ways\nRio Tinto is promoting the development of clean technology\nand innovation to encourage a circular economy. Elysis,\nour joint venture with Alcoa that aims to commercialize a carbon-free\naluminium smelting process, is an example of the type of step\nchange technology we hope to see this fund foster,\u201d declared Gervais Jacques, Managing Director Rio Tinto Aluminium Atlantic\nOperations.<\/p>\n\n\n\n

\u201cThe ecological health of our planet\nrequires bold solutions and innovative technologies. The Cycle Capital Fund IV\nis bringing clean energy technologies to market – advancing the Canadian\neconomy and enabling us to transition to a low-carbon future. We appreciate\nCycle Capital\u2019s leadership in this sector, and are pleased to be investing in\nthis fund,\u201d said Stephen Huddart, President and CEO of the McConnell\nFoundation. <\/p>\n\n\n\n

\u201cIncreasing our AUM close to half a billion will allow Cycle Capital to bring innovative clean solutions to market, connect talented entrepreneurs with an extensive network of leading industrial companies and drive solid financial returns,\u201d said Andr\u00e9e-Lise M\u00e9thot, Founder and Managing Partner of Cycle Capital. \u201cCycle\u2019s team is thankful for the strong support from the investor community. These leading industrial, corporate, financial institution, family office\/impact investors and individual investors, bring a great deal of value and a wide variety of expertise and best practices. <\/p>\n\n\n\n

The Fund will benefit from Cycle Capital\u2019s seasoned venture capital\ninvestment team and active presence in the Canadian and global cleantech\necosystems, as well as from the synergies, deal flow and investment insights\nproduced by Cycle\u2019s years of experience and leading position in the Canadian\ncleantech investment ecosystem. To date, Cycle Capital has invested $200M and\nleveraged $1.2B in equity in its portfolio companies.<\/p>\n\n\n\n

Cycle Capital Management<\/strong><\/p>\n\n\n\n

Cycle Capital Management (CCM) is an impact investor and Canada\u2019s largest\ncleantech venture capital investment platform with AUM (assets under\nmanagement) close to  $0.5B. With offices\nin Montreal, Toronto and Qingdao – in continental China – and a presence in New\nYork and Seattle, CCM invests in companies at the development and growth stages\nthat commercialize clean technologies that reduce greenhouse gas emissions,\noptimize resource use and improve process efficiency throughout North America\nand China. CCM is also the Founder of the Ecofuel Accelerator and the Co-Founder\nof the Ecofuel Fund.<\/p>\n\n\n\n

CCM brings together seasoned investment professionals, strategic advisors and industrial partners with in-depth knowledge of the sector. The firm has a number of industrials including Suez, Rio Tinto, Hydro-Qu\u00e9bec, Brookfield, Innergex Renewable Energy, \u00c9nergir, Cascades, Lonza, Aluminerie Alouette, Qingdao City Construction Investment Group and impact investors such as Vancity credit union, McConnell Foundation and Trottier Family Foundation as strategic partners. For more information on Cycle Capital, visit: www.cyclecapital.com <\/a>.<\/p>\n\n\n\n

Info<\/strong>
\nCatherine B\u00e9rub\u00e9
\nVice President, Sustainability, Investor Relations and Public Affairs
\ncberube@cyclecapital.com<\/a>
\n+1 514 629-1022<\/p>\n","protected":false},"excerpt":{"rendered":"

The Fund will focus on growth stage innovative cleantech companies Montreal and Toronto, Monday, February 11, 2019 \u2013 Cycle Capital, Canada\u2019s largest clean technology venture capital investment platform, announced the first close of its new Fund, Cycle Capital Fund IV, LP. The announcement was made by Andr\u00e9e-Lise M\u00e9thot, Founder and Managing Partner of Cycle Capital, […]<\/p>\n","protected":false},"author":1,"featured_media":6904,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-7104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts\/7104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/comments?post=7104"}],"version-history":[{"count":0,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/posts\/7104\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/media\/6904"}],"wp:attachment":[{"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/media?parent=7104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/categories?post=7104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cyclecapital.com\/en\/wp-json\/wp\/v2\/tags?post=7104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}