Toronto, Canada and Menlo Park, CA-based venture capital firm Relay Ventures has raised its third US$150MM (C$200MM) fund.
Limited Partners in the new fund include Northleaf Capital Partners, Kensington Capital Partners, Generation Capital, La Caisse de dépôt et placement du Québec, EDC, AEC, and Royal Bank of Canada.
Relay Ventures III is focused on early-stage investments in mobile software, services, content, and technology startups in Canada and the United States.
It has already invested in:
– FreshGrade, a Kelowna-based provider of classroom communication and assessments for K-12 education;
– 7shifts, a Saskatoon-based startup that provides workforce scheduling solutions for the restaurant industry;
– Automat.ai, a Montreal-based Artificial Intelligence (AI) messaging and bot company;
– Carrot Insights, a Toronto, Canada-based wellness rewards and loyalty startup;
– Kwik Commerce, a Sunnyvale and Tel-Aviv based one-touch commerce company; and
– UJet, a San Francisco, CA-based next generation mobile-first customer service technology company.
Led by co-founders and managing partners John Albright and Kevin Talbot, Relay Ventures Relay Ventures has invested C$355MM into 76 companies (24 of which have exited) that have collectively raised over C$1.3B and employ 3,398 people.