Fresh off fundraising trail, Pangaea Ventures expands U.S. market presence
Pangaea Ventures, a Canadian pioneer of advanced-materials investing, has opened a new U.S. office to broaden its access to sector opportunities south of the border. Earlier this year, Pangaea set up shop in Phoenix, Arizona, increasing North American locations to three, including its Vancouver headquarters. Chris Erickson, Pangaea's founder and general partner, told PE Hub Canada the move recognizes the fact that a growing share of the firm’s deal flow and portfolio companies resides in the U.S. News of the U.S. market expansion follows this month’s close of Pangaea Ventures Fund IV at $95 million (US$70 million). The fund is the largest in the firm’s nearly two-decade history, up 19 percent from Fund III, which raised about $80 million (US$60 million) in 2012.
