CIBC Innovation Banking provides Vanedge Capital with a Capital Call Line of Credit
May 06 2021 - 8:00AM
Business Wire
CIBC Innovation Banking is pleased to announce it has provided a
Capital Call Line of Credit to Vanedge Capital III L.P.
(“Vanedge”), an early-stage venture capital fund. The financing
solution provides Vanedge the ability to make investments in
portfolio companies prior to calling capital from the fund’s
limited partners and continue its investment strategy in analytics,
hardtech and computational biology.
Based in Vancouver, Vanedge has raised over $390 million in
committed capital across three funds since 2010 and completed over
40 investments with 10 successful exits. The firm will continue to
focus on emerging Canadian companies that are disrupting their
respective sectors, with a thematic investment strategy that
focuses on software, disruptive hardtech platforms and
computational biology.
“As a well-established Canadian fund, Vanedge is known for its
ability to help scale early-stage companies within their sectors,”
said Rob Rosen, Managing Director in CIBC Innovation Banking’s
Toronto office. “We look forward to deepening our relationship with
the team and supporting the needs of their portfolio
companies.”
“We are thrilled to be working with CIBC Innovation Banking in a
number of areas, from foreign exchange to business banking, and
lines of credit. We are impressed by the team’s breadth of services
and added focus on the innovation ecosystem in Canada,” said Paul
Lee, Managing Partner, Vanedge.
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, Boston, 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 Vanedge
Vanedge’s team of professionals are investing in early stage
companies that have potential to be leaders in next generation
analytics, computational biology and disruptive hardtech platforms
across North America. Vanedge is looking for companies that can
leverage the team’s focus, track record and experience address risk
and position companies to reach their full potential and attract
follow-on investments from large established venture firms.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210506005080/en/
Katarina Milicevic, katarina.milicevic@cibc.com,
416-586-3609
Canadian Imperial Bank o... (TSX:CM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Canadian Imperial Bank o... (TSX:CM)
Historical Stock Chart
From Apr 2023 to Apr 2024