The fund’s buyers are BlackRock, HarbourVest Companions, Northleaf Capital Companions, Hollyport Capital and Kensington Capital Companions.

MONTREAL, Oct. 14, 2021 /PRNewswire/ – Inovia Capital, a multi-stage enterprise capital agency constructing international tech champions, introduced right now the shut of Inovia Continuity Fund I, L.P., its first multi-asset continuation car within the order of US$334M.

Inovia welcomes new Restricted Associate, BlackRock’s Secondaries and Liquidity Options group (“BlackRock”), and present investor HarbourVest Companions as co-leads of the fund. Moreover, long-standing investor Northleaf Capital Companions joins Hollyport Capital and Kensington Capital Companions as individuals within the fund. The closing of the fund brings Inovia’s whole capital underneath administration to over US$1.9B.

“We’re happy to associate with Inovia on this multi-asset continuation fund,” stated Veena Isaac, Managing Director of BlackRock’s Secondaries and Liquidity Options workforce. “We have now been impressed by the standard and energy of the belongings, and Inovia’s lively position in supporting their development.”

The launch of this new fund offers Inovia with the mandatory capital to amass partial and full curiosity in high-performing portfolio firms from its classic enterprise funds. This continuation car additional helps the expansion of those firms over the approaching years and bridges the hole between the time horizon of funds and the time horizon of constructing international firms.

“Inovia has been a confirmed associate over a few years for HarbourVest and we’re excited to increase our relationship with them by way of this funding,” stated Mike Pugatch, Managing Director, HarbourVest Companions. “Common Companions are more and more on the lookout for options that permit them to supply a liquidity choice to their buyers as they search to increase the lifetime of their investments, and we’re happy to have introduced our long-standing experience within the secondary market to bear in structuring this continuation fund with Inovia.”

“Northleaf is happy to deepen our partnership with Inovia and convey our secondaries experience to assist the launch of this revolutionary fund which strengthens the place of Inovia as a number one, multi-stage, expertise funding agency.” stated Ian Carew, Managing Director and Enterprise Associate at Northleaf Capital Companions.

The brand new fund will assist 9 high-performing portfolio firms from completely different Inovia funds: Bench Accounting, Clearco, High Hat, TrackTik, TripleLift, Vidyard, in addition to AlayaCare, AppDirect, and Snapcommerce that are additionally Inovia Progress Fund I, L.P portfolio firms’ co-investments. 

“At Clearco, we all know that changing into ubiquitous requires us to develop into long-term, trusted companions to founders. Inovia has the identical philosophy,” stated Andrew D’Souza, Co-Founder and CEO of Clearco. “Inovia has been a trusted associate of ours from the start, they usually’ve supported our development. The Inovia Continuity Fund permits us to increase that partnership as we scale our firm.”

This primary continuation fund is a crucial milestone for Inovia, broadening its attain and furthering its technique to construct international, sustainable tech firms. “With Inovia Continuity Fund I, we’re equipping ourselves to assist firms past the normal enterprise capital cycle,” stated Chris Arsenault, Associate at Inovia Capital. “That is a part of the agency’s roadmap to assist entrepreneurs from seed to IPO and past.”

About Inovia Capital

Inovia Capital is a multi-stage enterprise capital agency that companions up with audacious founders able to construct sustainable international expertise firms. Inovia helps founders with devoted, long-term mentorship, a world expertise community and strategic steering for international scale. Inovia Capital manages over US$1.9B throughout early and growth-stage funds and holds places of work in Montreal, Toronto, Calgary, San Francisco and London. For extra data, go to inovia.vc.

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SOURCE iNovia Capital