TLDR:
- Conexus Credit Union and Conexus Venture Capital Inc. have launched a new venture capital fund called CVC Fund #2 to support Saskatchewan high-growth tech companies.
- The fund is starting with an initial investment of $15 million from Conexus with the goal of raising $30 million in total.
Conexus Venture Capital Inc. has announced the launch of a new venture capital fund, CVC Fund #2, in partnership with Conexus Credit Union. The fund aims to support high-growth tech companies in Saskatchewan and is starting with an initial investment of $15 million. The goal is to raise a total of $30 million for the fund, which will be used to fund local startups and help boost the local economy. This initiative follows the success of their previous fund, CVC Fund #1, and the establishment of the tech incubator, Cultivator powered by Conexus.
The Managing Director of Conexus Venture Capital Inc., Jordan McFarlen, emphasized their commitment to the Saskatchewan tech ecosystem and expressed confidence in the potential of local founders to make an impact on a global scale. Celina Philpot, Chief Executive Officer of Conexus, highlighted the low level of venture capital funding received by Saskatchewan startups in the past and shared their dedication to supporting local businesses through strategic investments. With this significant investment of $15 million into CVC Fund #2, Conexus Credit Union is reaffirming their commitment to championing a thriving Saskatchewan and helping businesses grow.
Since 2019, Conexus Credit Union has facilitated the investment of $66 million to support businesses, including 13 based in Saskatchewan. The launch of CVC Fund #2 represents a continued effort to boost the tech ecosystem in Saskatchewan and create opportunities for local startups to thrive.
