IGF II’s capital comes from a diverse group of leading institutional investors, including global pension funds, financial institutions, family offices, foundations, and a network of successful technology entrepreneurs.
With the first closing of $130 million, the active Yaletown funds now exceed $375 million. IGF II follows and will build on the success of Yaletown’s Innovation Growth Fund I which closed in 2018.
Yaletown’s IGF II is a pan-Canadian platform, focused on enabling and driving digital transformation and dedicated to closing the scale-up capital gap. The fund will finance and support the disruption and modernization of traditional industries through the application of data and technologies, including machine learning, artificial intelligence, software-defined systems and the Industrial Internet of Things (IIoT).
By enabling the digital transformation of industries, in what Yaletown calls the Intelligent Industry, the fund will continue to back companies creating substantial operational efficiencies thereby reducing the impact on climate change and driving financial returns for customers.
“We are grateful to our investors who share our belief in, and commitment to, climate-resilient growth generated by ground-breaking technology, for a digitally-led future. We are privileged to invest in Canadian entrepreneurs and technologies that are fundamentally changing the way industries operate around the world to reduce climate impact,” said Salil Munjal, Managing Partner at Yaletown.
“Our companies employ over 2,000 people and sell their solutions globally. Our firm is present and active in all major technology ecosystems in the country with teams in Montreal, Toronto, Calgary, Edmonton and Vancouver.”