CIBC Innovation Banking has provided financing, including a capital call line of credit, to Yaletown Partners, a Canadian technology venture capital firm. The capital call facility will provide Yaletown’s Innovation Growth Fund with more flexibility to make investments in portfolio companies. No financial terms were disclosed.
CIBC Innovation Banking is pleased to announce it has provided financing solutions, including a Capital Call Line of Credit to Yaletown Partners Inc. (“Yaletown”) for its latest fund, the Innovation Growth Fund (“IGF”). The capital call facility provides IGF with the flexibility to make investments in portfolio companies prior to calling capital from the fund’s limited partners.
With over $250 million in active capital across multiple funds, Yaletown invests in leading emerging growth companies across Canada with a focus on software, data and device technologies. Yaletown invests in technology companies that are driving climate-resilient growth and enabling enterprise clients to make better decisions that lead to the consumption of fewer resources.
IGF leverages Yaletown’s pan-Canadian platform and is focused on the Digital Transformation and Intelligent industries. The fund finances and supports the disruption and modernization of traditional industries through digitalization, transformation and sustainability.
“Yaletown is a long-standing Venture Capital firm in Canada with a proven track record of helping emerging growth companies scale,” said Rob Rosen, Managing Director in CIBC Innovation Banking’s Toronto office. “We are proud to strengthen our relationship with their team and look forward to continuing to support the needs of their portfolio investments.”
“CIBC Innovation Banking is a valued team, supporting our business with deep experience in providing credit and other facilities to many components of the Canadian technology ecosystem,” noted Hans Knapp, Co-Founder and General Partner of Yaletown. “We look forward to leveraging our relationship with CIBC Innovation Banking to bring additional creative solutions to our portfolio companies.”
About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to North American innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, New York, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada.
About Yaletown Partners
Yaletown Partners is a leading Canadian investor dedicated to closing the scale-up capital gap and focused on the Intelligent Industry opportunity. We invest in emerging-growth companies that enhance sustainability and productivity for industrial and enterprise customers. Our investments enable the application of data and technologies to digitally transform traditional industries, drive innovation, create operational efficiencies and reduce the impact of climate change. In 2017, Yaletown received the CVCA’s Venture Capital Deal of the Year award for its investment in BitStew, Canada’s largest venture financed exit of 2016. Backed by leading institutional investors, including pension funds, and a network of successful technology entrepreneurs, Yaletown has offices in Vancouver, Calgary, Edmonton, Toronto and Montreal. For more information, please visit www.yaletown.com.