Tuesday, July 19, 2005
Tech Capital Partners announces $50 million initial close of Tech Capital II L.P.
Firm’s second fund will focus on seed and early stage technology company investments in the Waterloo Region
WATERLOO, CANADA, July 19, 2005 – Tech Capital Partners, a venture capital firm investing in seed and early-stage technology companies, today announced it has completed its initial close of Tech Capital II L.P., the firm’s second venture capital fund.
With commitments from existing and new institutional investors totaling $50 million, Tech Capital II brings the firm’s total capital under management to $85 million. Notable investors in Tech Capital II include: BDC Venture Capital, EdgeStone Capital Partners, and OMERS Capital Partners.
The fund has a broad industry focus and fund management will consider investment opportunities from a number of the industry sectors that comprise Waterloo’s high-tech cluster.
Waterloo Region has been attracting an increasing share of IT investment in Canada over the past few years and offers a hospitable environment for high-tech entrepreneurs and their companies that includes:
“BDC has partnered with Tech Capital since its inception in 2001 and has seen, first hand, the quality of investment opportunities in this region,” said Brian Elder, Vice President Fund Investments, BDC Venture Capital and lead investor. “Waterloo Region is one of the most significant technology clusters in Canada and Tech Capital Partners has established itself in this region as a venture capital firm that provides the hands-on assistance emerging technology companies need to successfully commercialize their inventions.”
About Tech Capital Partners Inc.
An active advocate of innovation and entrepreneurialism, Tech Capital maintains a strong presence in Waterloo’s thriving technology community. More information is available at http://www.techcapital.com.
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