Canada Gets a New, $100-Million Cleantech Venture Capital Fund in Ontario

Ontario is welcoming a new $100-million cleantech venture capital fund. The fund is a joint venture of Sail Venture Partners and Stifel Nicolaus Canada.

The fund will invest in companies with “innovative, ready-for-market products across the clean-tech sector, including energy, water and green innovations,” according to an official document. The fund is backed by Sustainable Development Technology Canada, which hopes the fund will grow companies and create jobs in Ontario.

“Ontario is building a strong business climate and that work is paying off,” says Brad Duguid, Minister of Economic Development and Innovation. “There is growing confidence in the clean-tech sector as demonstrated by this commitment by SAIL Venture Partners.”

“SAIL Venture Partners investing in Ontario’s clean energy economy is a clear sign of the economic opportunities that exist in the province,” says Chris Bentley, Minister of Energy. “The clean-tech sector is a key part of Ontario’s plan to create and support good jobs, replace dirty coal and build a healthier future for generations to come.”

“By fostering clean-tech innovation and business, Ontario will benefit by being at the forefront of this burgeoning industry and job creation,” says Walter Schindler, Managing Partner, SAIL Capital Partners.” Ontario is helping to create the next frontier of clean technology, becoming the capital of clean-tech in Canada, and SAIL is excited to be a part of this development.”

“SAIL’s entry into the market is just another indicator of Ontario’s growing reputation as a global financial hub, particularly for clean-tech financing,” says Janet Ecker, President, Toronto Financial Services Alliance. “Toronto Stock Exchange and TSX Venture Exchange have become leading destinations for financing clean technology companies. One of TFSA’s key priorities is to support this growth and help establish this leadership position—and we are confident that SAIL’s arrival will stimulate others to follow.”

“A vibrant Venture Capital community is essential to get SDTC’s maturing portfolio of high growth clean-tech companies to scale in the global market place,” says Vicky Sharpe, President & CEO, Sustainable Development Technology Canada. “SDTC is thrilled to see our valued partner SAIL Capital Partners recognize this remarkable investment potential in Canada by opening an office in Toronto.”

“Cleantech organizations need capital to bring ideas and innovation to life,” says Kevan Cowan, President, TSX Markets and Group Head of Equities, TMX Group Inc. “A vibrant private venture capital community combined with an effective public capital marketplace will help ensure that clean-tech organizations of all sizes fund their future growth and competitiveness and contribute to Ontario’s and Canada’s success.”

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