Inovia Capital has officially unveiled Inovia Discovery Fund I focused on investing in early venture capital (VC) fund managers.
The fund will identify over a dozen managers “who can outperform the market through their unique networks and deep industry knowledge.” Discovery Fund I will also reserving a portion of the fund for direct investment (which will overlap Inovia’s existing early stage investment vehicles).
Launched in Q1 2023, the US $25 million Inovia Discovery Fund I is supported by Deloitte Ventures, Roller Labs Ventures, the corporate venture capital fund of Canadian Tire Corporation, Limited (CTC), and other investors.
The fund is led by General Partners, Shawn Donald Abbott, Chris Vital Arsenault, Dennis Gustav Kavelman, Karamdeep Singh Nijjar, and Patrick Pichette.
With the launch of the dedicated fund investing in VC managers, Inovia Canada becomes Canada’s truly “full-stack” VC manager, with investment vehicles focused on VC managers, seed/early and growth stage companies, accompanying by continuation funds and numerous special purpose vehicles (SPVs).
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