EnerTech Capital has raised under $120m for its fourth venture fund.
Backers included Alberta Enterprise, Export Development Canada, Teralys Capital, Business Development Bank of Canada, Southern UTE and the State of Maryland, as well as strategic investors and several Canadian family offices.
EnerTech Capital Partners IV LP invests in North American companies working in the energy technologies sector. It has already made four investments including:
– N-Dimension (cyber security for critical infrastructure);
– Space-Time Insight (big data);
– HPC Energy (horizontal drilling technologies); and
– Distech Controls (building automation).
Founded in 1996 by Scott Ungerer, EnerTech has offices in Toronto, Calgary, Montreal, Philadelphia and Menlo Park.