On February 19, 2019, iNovia Capital, a Montreal-based venture firm, announced its $796 million capital raise to create two venture funds.
iNovia raised a $265 million early-stage fund, as well as $530 million for a new growth-stage fund, creating the largest fund ever raised by the firm since its inception in 2007. The move also makes iNovia one of the few Canadian firms offering a growth-stage fund looking to make large investments in local, scaling tech companies. In connection with these transactions, iNovia also announced an expansion into European markets.
Osler, Hoskin & Harcourt LLP represented the iNovia Capital with a team consisting of Chima Ubani and Natasha Gould (Corporate), Alain Fournier and Jennifer Lee (Tax).