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iNovia launches second investment fund

iNovia Capital has launched its second fund, iNovia Investment Fund II, a $107 million Canadian seed and early stage venture capital fund focused on the information technology, life sciences and cleantech sectors.

iNovia Investment Fund II’s (iNovia II) seed and early stage investment activities span the software, semiconductor, medical device, biopharmaceutical and cleantech sectors.

iNovia II expects to invest in a broad range of companies over the course of the next four years. Initial investments tranches should vary between $500,000 and $2 million, and can go up to $7 million over the life of a given company.

Chris Arsenault, managing partner and COO of iNovia Capital, said: The entrepreneurial capital we provide goes well beyond financing, and gives seed and early stage companies unprecedented access to complementary intellectual property, as well as an extensive network of partners, advisors and co-investors.