Canadian Biomass Magazine

BIC signs MOU with five venture capital firms

November 22, 2017
By Bioindustrial Innovation Canada

Nov. 22, 2017 - Bioindustrial Innovation Canada (BIC) has signed a Memorandum of Understanding (MOU) with five key venture capital firms investing in the Canadian bioeconomy and cleantech space.

It is the intention of these companies to work with BIC to seek out potential co-investment opportunities. Should an opportunity arise, these parties agree to exchange information as required to assess the potential of an investment. However, each party remains free to make its own investment decision.

The five organizations that have executed these agreements with BIC are:

  • ArcTern Ventures, Toronto, ON
  • Cycle Capital Management
    • ​Montreal, QC
    • ​Toronto, ON
    • Qingdao, China
    • New York and Seattle, United States
  • Fraser Mackenzie Merchant Capital, Toronto, ON
  • GreenSky Capital, Toronto, ON
  • Sofinnova Partners, Paris, France

Sandy Marshall, Executive Director of BIC said, “We are extremely pleased to have such significant organizations in the bioeconomy and cleantech investment space indicate their willingness to partner with BIC to seek investment opportunities. This enhances BIC’s ability to support early stage companies with clean, green and sustainable technologies for the benefit of Ontario and Canada.”


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