CIBC Innovation Banking has provided financing solutions, including a capital call line of credit, to Graphite Ventures (Graphite), a USD100-million fund focused on seed-stage investments and extensions, through to the rights for Series A rounds.
The capital call facility provides Graphite with the flexibility to make investments in portfolio companies prior to calling capital from the fund’s limited partners.
Building on the team’s record using a disciplined and proven investment model, Graphite will further support capital investments in early-stage companies across Canada. This enables start-ups to compete and scale globally. The fund’s focus is on B2B SaaS, digital health, proptech, fintech, and capital-efficient hardware businesses. Graphite has closed eight investments and raised USD77 million of capital to date. The fund is targeting a USD100-million close in 2022.
