Innovatech invests in Boston-based VIMAC

Innovatech du grand Montréal has invested US$3 million in Venture Investment Management Co (VIMAC), a Boston-based venture capital firm focused on start-up firms in the areas of information technology and the Internet. VIMAC is currently unfolding a geographic diversification strategy, with 25% of its available funds coming from foreign sources. It has now secured $64 million in its campaign to raise $1509 million. In return for the Innovatech investment, VIMAC has agreed to invest in Quebec and pursue co-investments in future prospects. Innovatech is one of more than 75 VIMAC co-investors....