{"id":45661,"date":"2013-01-22T10:01:00","date_gmt":"2013-01-22T06:01:00","guid":{"rendered":"http:\/\/localhost\/?p=45661"},"modified":"2013-01-22T03:01:53","modified_gmt":"2013-01-22T11:01:53","slug":"mistral-venture-partners-ottawa-startups","status":"publish","type":"magazine","link":"https:\/\/brainstation.io\/magazine\/mistral-venture-partners-ottawa-startups","title":{"rendered":"Mistral Venture Partners to Raise $35 Million for New Fund Targeting Ottawa Startups"},"content":{"rendered":"<p><img decoding=\"async\" style=\"margin: 11px 33px; float: right;\" src=\"http:\/\/investottawa.ca\/files\/2013\/01\/MVP-announcement-Jan21-2013.jpg\" alt=\"\" width=\"320\" height=\"197\" \/>This week, Mistral Venture Partners announced the close of their first round of venture capital funding.<\/p>\n<p>The fund was originally slated to close at $10 million, but managing director Code Cubitt revealed the fund was impressively oversubscribed: its overall target is now $35 million.<\/p>\n<p><!-- pagebreak --><\/p>\n<p>Mistral is the first new fund to close in Ottawa in more than a decade. Upon the launch of Invest Ottawa 11 months ago, the organization&#8217;s CEO, Bruce Lazenby, identified the shortage of venture capital as a major challenge for the City&#8217;s lead economic development corporation.<\/p>\n<p>&#8220;Bruce made this a top priority for the Invest Ottawa team and took the lead in selling the concept of a new fund in Ottawa,&#8221; noted Cubitt. &#8220;After meeting with Bruce and Mayor Watson and looking closely at the investment opportunities in the city, it was clear to me that there is great potential in Ottawa.&#8221;<\/p>\n<p>The fund was announced in July of 2012 and closed its first round in less than six months.<\/p>\n<p>&#8220;This is tremendous news for Ottawa&#8217;s startup community and a key component for growth for our knowledge-based businesses,&#8221; said Ottawa Mayor Jim Watson. &#8220;Crucial investment dollars for our emerging companies will lead to job creation and sustainable economic development.&#8221;<\/p>\n<p>&#8220;The establishment of Mistral Venture Partners and the close of its first round in record time is a good signal that Ottawa is getting more dynamic,&#8221; added Lazenby. &#8220;Investors and startups alike are going to want to be a part of what&#8217;s happening here. We are building the right ecosystem to cultivate the next generation of success stories.&#8221;<\/p>\n<p>Mistral will begin looking at local startups that need first or second round funding. Deal activity is expected to begin early this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, Mistral Venture Partners announced the close of their first round of venture capital funding. The fund was originally slated to close at $10 million, but managing director Code Cubitt revealed the fund was impressively oversubscribed: its overall target is now $35 million. Mistral is the first new fund to close in Ottawa in [&hellip;]<\/p>\n","protected":false},"author":1358,"featured_media":45663,"menu_order":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"categories":[],"tags":[],"magazine-region":[],"magazine-series":[],"magazine-topic":[],"class_list":["post-45661","magazine","type-magazine","status-publish","has-post-thumbnail","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine\/45661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine"}],"about":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/types\/magazine"}],"author":[{"embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/users\/1358"}],"version-history":[{"count":0,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine\/45661\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/media\/45663"}],"wp:attachment":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/media?parent=45661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/categories?post=45661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/tags?post=45661"},{"taxonomy":"magazine-region","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-region?post=45661"},{"taxonomy":"magazine-series","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-series?post=45661"},{"taxonomy":"magazine-topic","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-topic?post=45661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}