Kensington Capital Partners is pleased to announce an investment by the Kensington Venture Fund to iNovia Capital’s newest fund. For its first (and final closing) the firm sought to raise $150M, due to strong investor demand the fund was oversubscribed raising a total of $175M. Interestingly, the fund now includes as investors fifteen founders and entrepreneurs that were previously backed by iNovia.
iNovia is an early stage venture capital firm focused on building companies across three specific macro-trends: Industry Software-as-a-Service (SaaS), Future of Work, and Software Differentiated Hardware. Notable companies it has backed include LightSpeed, AppDirect, Chango, Allocadia, Clearpath Robotics, and Vidyard. The fund will leverage its network of founders, co-investors and partners to access the best companies.
iNovia’s high quality investment team is made up of experienced founders, entrepreneurs, and engineers who have worked together for a number of years across 2 previous funds beginning in 2007. iNovia’s investment focus lies in next generation digital platforms and services and investing in entrepreneurs that are working to solve large problems in valuable markets. They invest across North America and have offices in Montreal, Toronto/Waterloo, Calgary, San Francisco and New York.
We welcome iNovia and the team to Kensington and are delighted to continue to support innovative, high-growth companies through our participation in Canadian venture capital funds.