Mar 22, 2022
Inovia Capital is a venture capital firm that actively supports founders to build global sustainable tech companies. The firm is well-known for its operator-led mindset and supporting founders with its long-term mentorship, unique insights, and vast network of experts. Inovia has invested in some of Osler’s clients, such as Clearco, Hopper, Symend, and Wealthsimple.
In March 2021, Inovia raised US$450M for its Growth Fund II, its second-growth investment fund, two years after the announcement of its first growth fund in the order of US$400M. Both funds extend the firm’s ability to support founders throughout their journey, from seed to IPO and beyond. The goal is to invest in founders with global ambitions in Canada, the United States, and Europe, where Inovia also has offices.
“Our relationship with Osler began in 2009 with their fund formation team,” says Karim Sharobim, Chief Legal Officer at Inovia. “Osler continues to be a dominant emerging and high growth counsel in Canada. We see them regularly in all regions of the country, and they are an instrumental partner we are proud to work with.”
In October 2021, Inovia launched a new continuation vehicle, Inovia Continuity Fund I, L.P, to support the growth of high-performing portfolio companies beyond the traditional venture capital cycle and to further the firm’s strategy to accompany founders at every stage of their growth. This new US$334M fund supports the following companies: Bench Accounting, Clearco, Top Hat, TrackTik, TripleLift, Vidyard, as well as Inovia Growth Fund I, L.P. portfolio companies AlayaCare, AppDirect, and Snapcommerce. The closing of Inovia Continuity Fund I brings the firm's total assets under management to over US$1.9B.
“Inovia continues to be recognized as one of the predominant venture firms in North America and Europe,” says Shahir Guindi, National Co-Chair and partner in Osler’s Emerging and High Growth Companies team. “They have attracted an outstanding team of seasoned individuals and amazing founders, growing with them to realize their ambitions of building a thriving tech ecosystem. We are proud to be one of their business partners.”
For more insights on the emerging and high growth companies ecosystem, read the Deal Points Report: Venture Capital Financings, our inaugural annual comprehensive report on venture capital and growth equity financing transactions.