VANCOUVER, BC, March 9, 2023 /CNW/ – Yaletown Partners (Yaletown), is pleased to announce the final close of its Innovation Growth Fund II (IGF II) at its hard-cap of $200 million, representing a 50% increase from its predecessor fund, IGF I, in 2019. The fund received strong support from both existing and new global institutional investors, including pension funds, asset managers, and select family offices. With the final closing of IGF II, active funds under management by the firm now exceed $450 million.
IGF II continues the firm’s successful strategy of financing technology companies enabling the modernization of industries, including transportation and logistics, industrial processes, energy infrastructure, data infrastructure and real assets. Yaletown calls this the Intelligent Industry. By enabling the convergence of technologies such as artificial intelligence, edge computing and automation, with broader themes of connectivity, digital transformation and electrification, Yaletown’s portfolio is creating substantial and innovative operational efficiencies that deliver excellent financial returns for customers while also reducing climate impact. This is the cornerstone of Yaletown’s climate resilient growth strategy.
“Our team has deep experience in navigating economic and technology cycles, both up and down, and our established sector expertise offers our companies a steady hand during uncertain times,” said Salil Munjal, Managing Partner at Yaletown, “We are grateful to our investors for trusting Yaletown as we continue to expand our platform across North America. We look forward to working with companies scaling up and creating a digitally led future for industry that results in strong ROI for their customers, enabling climate resiliency and generating excellent returns for the fund.”
Yaletown has invested in 75+ technology-driven companies across North America, developing a strong roster of portfolio companies, and has a total enterprise value exposure that exceeds $10Bn. Current portfolio companies include GoBolt, a technology enabled and sustainably focused logistics provider committed to providing carbon negative deliveries; EdgeQ, which is delivering the world’s first 5G software-defined base station on a chip, thereby enabling the cloud at the edge and complex real-time actionable insights for industry; and climate tech unicorn, Group14, a global manufacturer and supplier of advanced lithium-silicon battery technology and contributor to the world’s transition towards an all-electric future; and ClimateAI, the world’s first enterprise climate platform designed to predict the physical risk of climate change on assets and devoted to using tech to support resilience for lives, livelihoods and nature. Yaletown had four exits in 2022, including Circle Cardiovascular Imaging and Tasktop Technologies.
Yaletown invests in emerging-growth technology companies that enhance sustainability and productivity for industrial and enterprise customers by enabling the digital transformation of capitally intensive industries. Our Innovation Growth Funds help technology companies to scale and become market leaders, while prioritizing growth that is climate resilient. Yaletown is backed by leading institutional investors, including pension funds, asset managers and family offices.
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SOURCE Yaletown Partners