On October 11, 2019, Pela completed a $5 million Series A venture capital financing round led by Kensington Capital and Marcy Venture Partners. Pela will use the funds to expand its range of compostable phone cases.
Kensington Capital is a leading independent Canadian investor in alternative assets, with $1.5 billion in assets under management. Kensington Venture Capital invests in promising venture capital funds as well as direct investments in emerging technology companies.
Pela is a Kelowna BC-based company that makes compostable phone cases and has a goal of preventing one billion pounds of plastic from being made.
Osler, Hoskin & Harcourt LLP advised Kensington Venture Fund with a team led by Chad Bayne and consisting of Gary Marshall and Kosta Starostin (Emerging and High Growth Companies).