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Cycle Capital Management raises more than CAD100m for third fund

Cycle Capital Management (CCM) has launched Cycle Capital Fund III, a venture capital fund in the clean technology sector which targets companies at the commercialisation stage.

 
The announcement was made by Andrée-Lise Méthot (pictured), founder and managing partner of Cycle Capital, accompanied by Quebec Premier Pauline Marois and Minister of Finance and the Economy Nicolas Marceau.
 
The Cycle Capital Fund III will invest in sectors involving energy efficiency, green agriculture and chemistry, industrial applications, transportation, clean energy and fuels, and waste upgrading and transformation. Cycle Capital favours projects with the highest performance that help improve process efficiency.
 
Thanks to the participation of the Government of Quebec, which is contributing CAD50m through its authorised representative Investissement Québec, and several committed partners, including Teralys Capital, Hydro-Québec, Aluminerie Alouette, Fondaction CSN, Cascades, Gaz Métro, and Cycle Capital associates, this fund has reached a total of CAD108m.
 
"We are proud to once again succeed in bringing together partners from the institutional and industrial sectors to create Fund III. We are thrilled by the renewed confidence of our partners and the outstanding contribution of the Government of Quebec, which have encouraged us to pursue our investment efforts," says Méthot. "As the data on world venture capital shows, the clean technology sector is one of the most promising. Quebec is not being left behind, because it is also participating in this international movement and helping build solid businesses, prepared to confront the world challenges that await us.”
 
"Thanks to this new fund, added to the two existing funds, Cycle Capital now offers the most comprehensive financing in Quebec to effectively support the launch of innovative companies in the clean technology sector. We are pleased to support this major partner in the development of a sector that will help determine the success of Quebec in the long term," says Jacques Bernier, managing partner at Teralys Capital.

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