McRock Capital related stories
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Fundraising recap Jul 21, 2015A summary of venture fundraisings and filings worldwide; tables on recent U.S. and international closings
McRock Capital’s Fund I nears final close after signing up second strategic LPMcRock Capital, an investor in the industrial Internet, is preparing to wrap up its debut fund after securing a commitment from one of the world’s largest electric utilities. The Toronto-based firm announced today that McRock iNFund LP received an undisclosed investment from France’s EDF, its second strategic backer. As a result, Fund I moved closer to reaching its goal of $65 million of committed capital.
Newly funded RtTech Software wins BDC Innovation AwardRtTech Software Inc, which raised its Series A financing /canada/2015/02/24/mcrock-capital-leads-3-mln-series-a-funding-of-rttech-software/ in February, has received this year's BDC Innovation Award at the 2015 annual conference of the Canadian Venture Capital & Private Equity Association (CVCA). The award recognizes an early-stage company that has shown an ability to bring innovation to market and to help reshape a sector in new ways. RtTech Software, a developer of software apps that provide operational intelligence for industrial facilities, has its headquarters in Moncton, New Brunswick. It is backed by Canadian venture capital firm McRock Capital, which led its Series A round, and New Brunswick Innovation Foundation.
White Star, McRock back $6 mln Series A financing of mnuboMontréal-based mnubo, an Internet-of-Things data analytics company, has secured $6 million in Series A financing. The round was led by U.K. venture capital firm White Star Capital and was joined by Canadian firm McRock Capital. Founded in 2012, mnubo said funds will be used to expand its commercial team, enhance user experience, and accelerate data science and machine learning initiatives. It said that over the past year the company has seen an increase of over 400 percent in the number of connected objects on its platform, and now counts customers in North America, Europe and Asia. In April, McRock Capital's latest fund, McRock iNFund LP, exceeded its target /canada/2015/04/08/mcrock-capitals-industrial-internet-fund-beats-target-with-new-commitments/ with new limited partner commitments.
Mnubo rakes in $6 mln Series AMontreal-based Mnubo, an internet of things data analytics company, has secured $6 million in Series A funding. White Star Capital and McRock Capital led the round.
McRock Capital’s industrial Internet fund beats target with new commitmentsMcRock iNFund LP, a fund managed by Canadian venture capital firm McRock Capital, has secured undisclosed investments from Alberta Enterprise Corp and Kensington Venture Fund. The latest commitments, which follow those received from /canada/2015/01/22/cisco-teralys-commit-to-second-close-of-mcrock-capitals-industrial-internet-fund/ Cisco Investments, Teralys Capital Innovation Fund and BDC Capital in late 2014, helped the fund to exceed its target. McRock iNFund invests in the intersection of sensors and software in large industrial markets, a.k.a. the industrial Internet of things. Co-founded by Scott MacDonald and Whitney Rockley, McRock in February led the Series A financing /canada/2015/02/24/mcrock-capital-leads-3-mln-series-a-funding-of-rttech-software/ of RtTech Software Inc, a solutions provider focused on enhancing industrial capabilities.
CVCA's annual awards program open for nominationsThe Canadian Venture Capital and Private Equity Association (CVCA) recently launched its annual awards program, which is now open for nomination submissions http://conference.cvca.ca/awards/ from CVCA members. The program, which recognizes a variety of accomplishments in the Canadian industry, is focused on four categories: Deal of the Year; Entrepreneur of the Year; the Ted Anderson Community Leadership Award, which is named in honour of Canadian venture capital professional Ted Anderson; and the BDC Innovation Award. Award winners will be announced on May 20th, 2015 at the CVCA’s 2015 conference in Vancouver.
McRock Capital leads $3 mln Series A funding of RtTech SoftwareCanadian venture capital firm McRock Capital has led a $3 million Series A financing of RtTech Software Inc, a Moncton, New Brunswick-based developer of software apps that provide operational intelligence for industrial facilities. New Brunswick Innovation Foundation, which invested in the company in 2012, also participated in the round. The McRock investment was made by McRock iNFund, an industrial Internet of Things fund. Last month, the fund secured commitments /canada/2015/01/22/cisco-teralys-commit-to-second-close-of-mcrock-capitals-industrial-internet-fund/ from Cisco Investments, Teralys Capital and BDC Capital. As a result of the close of RtTech's Series A round, McRock's Scott MacDonald and Whitney Rockley have joined the company's board of directors.
Cisco, Teralys commit to second close of McRock Capital's industrial Internet fundCanadian venture capital firm McRock Capital has raised new commitments for the second close of McRock iNFund LP, an industrial Internet of Things (IIoT) fund. The undisclosed commitments came from Cisco Investments /canada/2014/06/19/cisco-commits-150-mln-to-canadian-innovation-vc-funds-incubators/ and Teralys Capital Innovation Fund, the Canadian venture fund of funds /canada/2015/01/12/and-harbourvest-makes-four-how-vcap-funds-plan-to-renew-canadian-vc/ managed by Teralys Capital. BDC Capital also increased its stake in the fund, which is scheduled to close this year at a cap of $65 million. Based in Toronto, McRock is focused on the intersection of sensors and software in large industrial markets, known as the IIoT. It invests in companies located across North America. In 2013, the firm announced a strategic partnership /canada/2013/11/18/mcrock-capital-partners-ge-capital-advance-industrial-internet/ with GE Canada.
Echelon CEO Ron Sege appointed to McRock Capital's advisory boardRon Sege, chairman and CEO of U.S.-based Echelon Corp (Nasdaq: ELON), has been appointed to the advisory board of Canadian venture capital firm McRock Capital. In addition to his current leadership at Echelon, Sege previously served as a senior executive at a number of technology businesses, including 3Com Corp. Based in Toronto, McRock invests in companies that are targeting industrial markets looking to maximize efficiency by making their machines, equipment and devices run more intelligently. Last December, the firm raised /canada/2013/12/16/mcrock-capital-announces-initial-close-of-50-mln-industrial-internet-fund/ $50 million in the initial close of McRock iNFund LP.