CIBC Launches $450 Million Fund Focused on Venture Capital and Growth Equity Funds

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Ultra Club
$500/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

Oct 13, 2021 05:00 am
TORONTO -- 

CIBC is pleased to announce the creation of a $450 million fund dedicated to investing in key Canadian and U.S.-based venture capital and growth equity funds.

“As CIBC continues to deepen relationships with highly successful investors in the North American tech, life science and clean tech sectors, dedicating a new pool of capital to invest in our core fund sponsor clients is a natural next step in enabling growth in these important sectors,” said Mark McQueen, President & Executive Managing Director, CIBC Innovation Banking, CIBC. “This capital will fuel the growth in leading start-ups as part of each fund manager’s multi-year investment strategy.”

Over the past three years, CIBC has made financial commitments as a Limited Partner to 12 Canadian-based venture capital and growth equity funds, covering every stage of the entrepreneurial lifecycle. The underlying fund strategies have included woman-led startups, Fintechs, disruptive tech and early stage software companies. These financial commitments are above and beyond CIBC’s previously-announced leadership role in the establishment and early capitalization of the Canadian Business Growth Fund.

CIBC has recently doubled its capital commitment to venture fund investing and is now making Limited Partner investments in select later-stage, U.S.-based growth equity funds supporting the tech and life science sectors.

“We believe our bank has a broad role to play in supporting the advancement of innovation across North America, including high growth sectors such as tech and life sciences, and clean tech,” added Mr. McQueen. “Our commitment to the renewables and clean energy sectors takes many forms, and partnering with leading Fund managers in this way is another avenue for CIBC to build a best-in-class franchise with global perspectives.”

Since the launch of CIBC Innovation Banking in early 2018, CIBC has grown both its footprint and team to now cover 11 key innovation ecosystems across North America, and recently expanded to the UK with the opening of a new London office.

About CIBC Innovation Banking

CIBC Innovation Banking delivers strategic advice, cash management and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, London, Menlo Park, Montreal, New York, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada.

Deborah Rowe, [email protected], 416-586-7019

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).