Teralys Capital Injects $50 Million in Rho Canada Venture Fund II to Invest in Tech Startups

Posted by Knowlton Thomas

Teralys Capital has announced a $50 million investment in Rho Canada Venture Fund II, concurrent with its initial closing of $100 million.

Rho Canada, based in Montréal, will build continue to make early stage investments in new media, mobile applications, wireless infrastructure, semiconductors and software. The fund will be managed in partnership with Rho Capital Partners and Teralys Capital is also partnering with Canadian institutional investors including BDC Venture Capital, Ontario Venture Capital Fund and Fondaction.

"Rho Canada plays a pivotal role with our entrepreneurs in Québec by providing them access to an international network of strategic partners, customers and co-investors," said Jacques Bernier, Managing Partner of Teralys Capital. "Rho Capital and Rho Canada have a significant history of deal making in Québec, having financed several companies in the province over the past 5 years and attracted over $200 million in direct and foreign investments. Recent investments in Accedian Networks, Beyond the Rack and Enerkem clearly illustrate how Rho Capital's network and expertise can accelerate their growth."

"The closing of this second fund will enable Rho Canada to continue to add value to Québec entrepreneurs while delivering strong returns to our investors," said Jeff Grammer, Partner with Rho Canada. "The continuous support of our institutional investors has enabled us to back technology companies that will have a strong impact on Canada's economy and we look forward to continue to deliver on this strategy with our second fund."

The announcement was held in Montreal earlier today during DemoDay and AccelerateMTL 2012.

"The Québec startup ecosystem has been going through a renaissance over the past few years which was fueled in great part by Teralys Capital," said Jean-Sébastien Cournoyer, co-founder of FounderFuel. Entrepreneurs with a vision to build great companies need a complete funding ecosystem to succeed. We're happy to have Rho Canada as a partner and co-investor. "The ability to build real cross-border relationships and provide mentoring to promising startups is key", added Chris Arsenault, C100 Charter Member and Board Member. "With this new fund, Rho Canada joins a select group of early stage investors that can help local entrepreneurs scale their businesses internationally."

Teralys Capital is a fund of funds created to finance private venture capital funds focused on investing in life sciences, information technology and cleantech companies. The fund has over $700 million in capital commitments from Caisse de dépôt et placement du Québec, the Solidarity Fund QFL and Investissement Québec.

Rho Canada is a division of Rho Capital Partners focusing on early-stage investing in Canada's most innovative technology companies. Rho Canada has $200 million under management across two early stage funds.

Company:
Rho Canada
Website:
http://www.rho.com
Location:
Montréal, Québec, Canada

Rho Canada, based in Montreal, is dedicated to backing leading, early-stage technology-based companies in Canada. Formed in 2006, Rho Canada is affiliated with Rho Ventures in the US and leverages off Rho Ventures' 25+ years of experience in investing in venture-stage companies. The Rho Canada team is led by Jeff Grammer and Antoine Paquin, serial entrepreneurs who have previously successfully built, as CEO's, a... more

Company:
Teralys Capital
Website:
http://www.teralyscapital.com
Location:
Montréal, Québec, Canada

At Teralys Capital, along with our partner funds and strategic alliances, we create value and help outstanding technology entrepreneurs innovate, grow and bring game changing ideas to the world marketplace. more

Company:
FounderFuel
Website:
http://www.founderfuel.com
Location:
Montréal, Québec, Canada

At FounderFuel we believe startup success is more about the people than the idea. We take a lot of care in choosing the smartest and most resourceful, dedicated and passionate people we can find. Once selected to join the program, you’ll be surrounded by a few like-minded entrepreneurial teams for an 12 intense weeks. You will be developing your business within an ecosystem of experienced entrepreneurs, top... more


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Knowlton Thomas

Knowlton Thomas

Knowlton is the managing editor of Techvibes. Based in Vancouver, Knowlton has been published in national publications and has also appeared on television and radio. Previously he was an editor for New Westminster weekly The Other Press and served on its board of directors. When not working, Knowlton enjoys playing tennis, hiking, and exploring weird side streets. more




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