Inovia Capital raises $600m venture funds

Inovia Capital, the Canadian VC firm, has raised two new funds totalling US$600 million: an early-stage fund of $200 million; and a growth-stage of $400 million. The funds will be invested in its existing markets in Canada and Silicon Valley, as well as through a new office in London.

The new funds enable Inovia to provide funding and support for startups from early stage through growth and beyond. The opening of a London office reflects the reality of transatlantic ventures, assisting North American companies to grow into Europe, as well as tapping into the pool of European entrepreneurial talent. The office will be led by general partner Patrick Pichette, a former SVP and CFO at Alphabet/Google. He said: "Inovia Capital is laser-focused on supporting entrepreneurs. We invest in long-term relationships because we know from experience what it takes to build global champions."

Inovias invests in 'technology to improve people's lives', with a broad remit spanning fintech, travel, infrastructure and others, in addition to healthtech. Its healthtech investments include AlayaCare and BenchSci, amongst others.

Chris Arsenault, general partner and co-founder, Inovia Capital, said: "We are excited to help build the next generation of respected global companies with a deep ambition to create a lasting, positive impact on humankind."