Venture Capital firm Klass Capital today announced a partnership with the Healthcare of Ontario Pension Plan to increase the size of Klass Capital Fund I, LP, which is a Canadian-based venture capital fund focused on enterprise software, information technology and e-commerce companies. Founded by Daniel Klass in 2010, the fund now has $50 million to invest in high-growth Canadian technology companies.
“We are delighted to partner with Klass Capital to help strengthen Canada’s technology ecosystem," says Elizabeth Loach, Partner at HOOPP Capital Partners. "Additional capital will help Canadian entrepreneurs create value by driving innovation and demonstrating international reach.”
Toronto, Montreal, and Vancouver rank among the world’s top 25 technology startup ecosystems. Toronto ranked an impressive fourth on the list. Healthcare of Ontario Pension Plan’s partnership with Klass Capital aims to ensure that the area’s entrepreneurs have access to local capital.
"We take a collaborative and entrepreneurial approach to investing and strongly believe our partnership with Healthcare of Ontario Pension Plan will better support Canada’s best entrepreneurs and drive Canada’s technology sector," says Daniel. “The fund will be investing between $2 million and $10 million of equity per transaction in proven, high-growth technology businesses.
"We see tremendous industry growth in e-commerce and enterprise software and we are very excited about all the opportunities we are currently exploring. As Klass Capital and Healthcare of Ontario Pension Plan share a similar entrepreneurial style and long-term approach to value creation, we could not have asked for a more appropriate or supportive partner. This continues to be a very exciting time for Canadian technology businesses and we look forward to partnering in their continued success."
In 2011, Klass Capital lead a $3 million financing in a cloud-based supply chain logistics business Nulogy, which resulted in 100% increase in revenue. Klass also partnered with the web-based marketing platform and solution, UnoApp, which increased its customer base from 100 to 1,000+ in two years following $3 million of equity investment.