iNovia Capital launches new $107-million fund

iNovia Capital has launched a $107-million seed and early stage venture capital fund focused on the information technology, cleantech and life sciences sectors. iNovia Investment Fund II LP has attracted the participation of more than a dozen backers including Consensus Business Group, Caisse de dépôt et placement du Québec, FIER Partners, BDC Capital, AVAC Ltd, several university funds and angel investors. The new fund reflects iNovia's expansion beyond Quebec as it builds out a North American network of investors. The Fund will invest in a broad range of firms over the next four years in tranches between $500,000 and $2 million, with up to $7 million over the life of a given company.