Cycle Capital, a Canadian clean technology venture capital firm, held the first close of its new $109m fund.
Backers included The Government of Quebec, which is contributing $50m through its authorized Investissement Québec, Teralys Capital, Fonds de solidarité FTQ, Fondaction, Suez, Hydro-Québec, Innergex Renewable Energy, McConnell Foundation, Rio Tinto, Vancity credit union, Trottier Family Foundation, several individuals and the firm’s managers.
Cycle Capital Fund IV will target innovative cleantech companies across North America, with a primarily focus on Canada, in key technology sectors such as:
- energy storage and efficiency,
- green chemistry,
- clean transportation and smart city technologies,
- Green IoT,
- Big Data & AI, and
Led by Andrée-Lise Méthot, Founder and Managing Partner, Cycle Capital has invested $200M and leveraged $1.2B in equity in its portfolio companies to date. It has AUM (assets under management) close to $0.5B and offices in Montreal, Toronto and Qingdao – in continental China – and a presence in New York and Seattle.