- Conexus Venture Capital (CVC) launches second $30M fund for Saskatchewan tech startups
- Fund II aims to invest in early-stage Saskatchewan-based technology startups
- CVC’s first fund made 17 investments in Prairie-based startups, contributing to the growth of the Saskatchewan tech ecosystem
- CVC’s new leadership team includes Jordan McFarlen, Gabrielle Schubach, and Harrison Lars-Hansen
- CCU reaffirms commitment to CVC’s second fund, expressing confidence in the revamped team and the Saskatchewan tech ecosystem
Conexus VC Launches Second $30M Fund for Saskatchewan Tech Startups
Saskatchewan’s tech ecosystem is undergoing a significant boost with the launch of Conexus Venture Capital’s (CVC) second $30-million CAD venture capital fund. The fund, which has already secured a $15-million first close from its founder, Conexus Credit Union (CCU), aims to support early-stage technology startups based in Saskatchewan. With new leadership and a proven track record from its first fund, CVC is set to further strengthen the province’s tech landscape.
Building on Past Successes
CVC’s managing director, Jordan McFarlen, highlighted the success of the first fund in laying the foundation for the growth of world-class companies within Saskatchewan. The firm has identified a pool of talented founders and scalable businesses within the region, emphasizing the potential for innovation beyond traditional tech hubs.
Under McFarlen’s leadership, CVC is poised to continue its mission of investing in and nurturing Saskatchewan-based startups. The launch of Fund II signifies a renewed commitment to the local tech ecosystem, especially in light of recent challenges faced by the industry.
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Expanding Opportunities for Startups
The decision to launch a second fund comes at a crucial time for Saskatchewan, as the province aims to solidify its position as a viable destination for tech investment. With a focus on early-stage companies, CVC’s Fund II is expected to provide crucial funding and support for startups looking to scale and make a mark on the global tech stage.
McFarlen’s vision for the fund includes backing 10 to 15 companies across various stages of growth, from pre-seed to Series A. By actively leading and co-leading investment rounds, CVC aims to not only provide capital but also strategic guidance to help startups navigate the challenges of growth and expansion.
Driving Innovation and Collaboration
The collaboration between CVC, Cultivator, and other local organizations like Co.Labs reflects a broader effort to create a robust ecosystem for tech innovation in Saskatchewan. By leveraging support from both private and public sectors, the province is paving the way for a new wave of tech success stories.
The increased cap on the startup investor tax credit by the Saskatchewan government further underscores the commitment to fostering a thriving tech community. This combined support system, along with CVC’s continued investment focus, sets the stage for an exciting period of growth and development in the Saskatchewan tech scene.
The launch of Conexus Venture Capital’s second fund signifies a significant milestone for Saskatchewan’s tech startups. With a strong foundation laid by the first fund and a renewed commitment to supporting local innovation, CVC is well-positioned to drive growth, foster collaboration, and propel the province’s tech ecosystem to new heights.
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