From an AI-generated beer recipe to meal-planning for Marathon training, local early adopters are finding new ways to make the most out of the buzzy technology.
Information Venture Partners Closes Third Venture Capital Fund at $101M
ACCESSWIRE
05 May 2021, 23:19 GMT+10
The closing of Fund III validates the growing appetite for early-stage investment opportunities in North American B2B financial technology and enterprise SaaS companies
TORONTO, ON / ACCESSWIRE / May 5, 2021 / Information Venture Partners ( Information VP ), a Toronto-based venture capital firm that primarily invests in early-stage B2B fintech and enterprise software companies modernizing financial services, announced today that it has closed its third investment fund. At US$101 million , Information Venture Partners Fund III is backed by a number of Limited Partners who have invested with Information VP since its inception and include the five largest institutional fund of fund investors that support the Canadian venture capital ecosystem. The commitments also came from some of North America s top financial institutions, including: four of Canada s six largest banks, othe
Information Venture Partners closes third fund, raising $124 million CAD
Toronto-based venture capital firm Information Venture Partners (Information VP) has closed its third venture fund, securing around $124 million CAD ($101 million USD).
Information VP’s Fund III has been backed by a group of limited partners that have invested in its firm since its inception. Information VP did not disclose the names of its LPs. The firm noted the fund’s financiers also include “the five largest institutional fund of fund investors that support the Canadian venture capital ecosystem,” four of Canada’s six largest banks, other large financial institutions and insurers, and “executives from leading fintech companies.”
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Empyrean Solutions Raises $74M Growth Financing
Empyrean Solutions, a Woburn, Mass.-based provider of asset and liability management and risk and compliance solutions for banks and credit unions, raised $74m in minority growth financing.
The round was led by Spectrum Equity, with participation from Information Venture Partners. In conjunction with Spectrum Equity’s investment, Adam Margolin and Lauren Shimbo from Spectrum Equity will join Empyrean’s board of directors.
The company intends to use the funds to accelerate investments in product innovation.
Led by Chris Maclin, CEO, and Raffi Festekjian, Executive Chairman, Empyrean provides a software platform that allows banks and credit unions of all sizes to take control of their balance sheet management, scenario planning, and risk analysis in a single software platform. The company offers a host of modules, including asset and liability management, liquidity stress testing, deposit analytics, budgeting, and profitab