BC Renaissance Capital Fund Managers NOW official

Posted by Rob Lewis

Over breakfast this morning the Honourable Iain Black, Minister of Small Business, Technology and Economic Development, introduced the new fund managers selected by the B.C. Renaissance Capital Fund (link to their new website).

The B.C. Renaissance Capital Fund Ltd. is a Crown corporation that is administered by the provincial Investment Capital Branch. The Renaissance Fund invests in venture capital partnerships managed by experienced investment professionals. It focuses on four key technology sectors: information technology, new media, clean technology and life sciences.

Last spring, the Fund issued a Request for Qualifications to identify experienced investment professionals to provide venture capital fund management services. Through this RFQ, the Renaissance Fund planned to select up to four fund managers to invest and manage a total of $55 Million of capital.

In August the word on the street (and here on Techvibes) was that the four new fund managers had already been chosen and that they were Ottawa's Wesley Clover, Toronto's Tandem Expansion, Yaletown Venture Partners, and Paul Lee's VanEdge Capital.

Shortly after publishing this blog post, I was contacted by BCRCF executive Todd Tessier and asked to remove the fund manager's names and the capital allocations until they could officially confirm the information. I was told that Techvibes was "reporting false information that can put the whole process behind another year".

It turns out Techvibes was NOT reporting false information and we did not put the process behind another year. Minister Black announced this morning that Wesley Clover, Tandem Capital, Yaletown Venture Partners, and VanEdge Capital were indeed the fund managers chosen to join the fund’s three existing managers: ARCH Venture Partners, Kearney Venture Partners, and VantagePoint Venture Partners.

While today's announcement did not include allocations of the new $55 Million, here's what we've heard:

  • Wesley Clover - $5 Million
  • Tandem Expansion - $5 Million
  • Yaletown Venture Partners - $15 Million
  • VanEdge Capital - $30 Million

The seven managers can invest up to $90 million directly from the BCRCF, plus their own capital.

Stay tuned for more analysis of the BCRCF and their Fund Selection Process over the next couple weeks.

Company:
Yaletown Venture Partners
Website:
http://www.yaletown.com
Location:
Vancouver, British Columbia, Canada

Based in Vancouver, British Columbia, Yaletown Venture Partners is a venture capital firm that invests time and money in seed and early-stage technology and clean-tech companies. Yaletown focuses on Western Canadas vibrant Energy Technology and Information Technology and Clean-tech clusters. Yaletown is backed by some of Canadas largest pension funds and financial institutions, all of which have a long-term... more

Company:
VanEdge Capital
Website:
http://www.vanedgecapital.com
Location:
Vancouver, British Columbia, Canada

Vanedge Capital is a new venture capital fund focused on investments in interactive entertainment and digital media businesses. We make investments where our unique combination of operating leadership and management; subject matter expertise; relationships with technology, creative, and management talent; and proven ability to pick hits in a hit-driven business will generate out-sized returns. We focus on... more

Company:
Wesley Clover
Website:
http://www.wesleyclover.com/
Location:
Ottawa, Ontario, Canada

Wesley Clover is a prominent investor and successful manager of investments in Technology, Real-Estate & Leisure Industries. With a broad yet complementary portfolio of investments and interests Wesley Clover is one of the world’s premier names in private equity investments more

Company:
B.C. Renaissance Capital Fund Ltd.
Website:
http://www.tted.gov.bc.ca/TRI/Pages/BCRCF.aspx
Location:
Victoria, British Columbia, Canada

The B.C. Renaissance Capital Fund Ltd. is a Crown corporation that is administered by the provincial Investment Capital Branch. The Renaissance Fund invests in venture capital partnerships managed by experienced investment professionals. It focuses on four key technology sectors: information technology, new media, clean technology and life sciences. more

Company:
Tandem Expansion
Website:
http://www.tandemexpansion.com
Location:
Toronto, Ontario, Canada

Tandem Expansion is a private growth capital fund seeking to invest in small and mid-sized Canadian companies in a variety of technology-based sectors. The fund's core values are professionalism, honesty and integrity. Tandem will act as a catalyst for growth and expansion by making targeted investments in companies with high growth potential and strong management teams. The fund's executives collectively... more


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Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



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