{"id":79630,"date":"2017-03-10T08:00:19","date_gmt":"2017-03-10T13:00:19","guid":{"rendered":"https:\/\/techvibes.com\/?p=79630"},"modified":"2017-04-06T18:28:13","modified_gmt":"2017-04-06T22:28:13","slug":"province-of-ontario-commits-25-million-to-scaleup-ventures","status":"publish","type":"magazine","link":"https:\/\/brainstation.io\/magazine\/province-of-ontario-commits-25-million-to-scaleup-ventures","title":{"rendered":"Province of Ontario Commits $25 Million to ScaleUP Ventures"},"content":{"rendered":"<p>Toronto&#8217;s <a href=\"http:\/\/www.suv.vc\">ScaleUP Ventures<\/a> this week announced a second closing of $32 million, bringing the fund&#8217;s total capital commitment to over $70 million. The second closing includes $25 million from the Province of Ontario.<\/p>\n<p>ScaleUP was announced in May with a target to raise $75 million as an early-stage technology fund to work with corporate Canada to help startups achieve global scale.<\/p>\n<p>ScaleUP brings together two components: a venture capital fund and a Leadership Council comprised of some of successful business leaders, entrepreneurs, and investors. It is managed by Kent Thexton and Kevin Kimsa, both formerly of OMERS Ventures.<\/p>\n<p>&#8220;Ontario is breaking out as a key global technology start-up market and, with the commitment from our investors, we expect to invest in 25-30 companies. With the help of the ScaleUP team and the Leadership Council, we will help more Ontario companies reach global scale,&#8221; said Kent Thexton, General Partner, ScaleUP Ventures.<\/p>\n<p>ScaleUP has made seven investments to date, five of which are based in Ontario.<\/p>\n<p>Investees include Fusebill, an Ottawa\u2010based company that develops software to manage subscription billings; FundThrough, a Toronto\u2010based small business lender; Naborly, a Toronto-based company using machine learning for tenant screening; and Neuranet, a Toronto-based business in AdTech with its market-leading Flexitive platform.<\/p>\n<p>ScaleUP seventh investment was $1.7 million in Toronto-based Crowdcare, a provider of cognitive digital care solutions for enterprises.<\/p>\n<p>https:\/\/borndigital.com\/2016\/06\/16\/killer-spaces-shopify-torontos-brick-and-beam-masterpiece<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Toronto&#8217;s ScaleUP Ventures this week announced a second closing of $32 million, bringing the fund&#8217;s total capital commitment to over $70 million. The second closing includes $25 million from the Province of Ontario. ScaleUP was announced in May with a target to raise $75 million as an early-stage technology fund to work with corporate Canada [&hellip;]<\/p>\n","protected":false},"author":54503,"featured_media":79642,"menu_order":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"categories":[13],"tags":[187,270,82],"magazine-region":[],"magazine-series":[],"magazine-topic":[],"class_list":["post-79630","magazine","type-magazine","status-publish","has-post-thumbnail","hentry","category-News","tag-investment","tag-ontario","tag-startups"],"acf":[],"_links":{"self":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine\/79630","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\/54503"}],"version-history":[{"count":0,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine\/79630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/media\/79642"}],"wp:attachment":[{"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/media?parent=79630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/categories?post=79630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/tags?post=79630"},{"taxonomy":"magazine-region","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-region?post=79630"},{"taxonomy":"magazine-series","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-series?post=79630"},{"taxonomy":"magazine-topic","embeddable":true,"href":"https:\/\/brainstation.io\/wp\/api\/wp\/v2\/magazine-topic?post=79630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}