Toronto, ON – July 7, 2015
GreenSky Capital Inc. is pleased to announce the launch of a new Canadian early-stage venture fund, the GreenSky Accelerator Fund I, LP (“the Fund”). The Fund will leverage GreenSky Capital Inc.’s significant deal flow and investing network to invest in early-stage Canadian technologies, with an emphasis on CleanTech and IT opportunities.
GreenSky has completed the first close of CAD$3.25-million from a network of private Canadian and U.S. investors, and will leave the Fund open for further participation (an additional CAD$750,000, up to a maximum of CAD$4M) from GreenSky Capital’s investor network and members of the GreenSky President’s Club, an affiliated group of active high net-worth angel investors that have previously participated in GreenSky Capital deals.
The Fund is pleased to announce that it has entered into a term sheet for its first investment with Cyclica Inc. Cyclica has developed a data interaction platform that simulates the interaction of pharmaceuticals with the body’s proteins far more accurately than previous in silico (computer-based) technologies. Cyclica CEO Paul Angelico commented, “We are excited to be the first investee of the GreenSky Accelerator Fund. This investment, along with potential co-investment from angel investors of the GreenSky President’s Club, will finalize our Seed financing. With major clients on board, a full sales pipeline, and this funding, Cyclica is well-positioned for accelerated growth.” Members of the GreenSky President’s Club and unitholders of the Fund will have an option, for 30 days, to co-invest with the Fund on the same terms as have been negotiated by the Fund.
The Fund will continue to draw from a strong portfolio of GreenSky Capital deal flow, and will co-invest with other sources of private and institutional capital, including the GreenSky President’s Club.
“We believe that, as an asset class, Canadian early-stage technology has a superior risk-reward ratio,” said GreenSky President Greg Stewart. “Canada is a rapidly growing hub for tech entrepreneurs and represents a compelling investment forum. The GreenSky Accelerator Fund will leverage GreenSky Capital’s ability to bring an institutional level of due diligence to early stage investing in the Canadian marketplace.”
Early-stage Canadian CleanTech and IT companies interested in working with the GreenSky Accelerator Fund are invited to learn more about, and apply to, the Fund at: fundapplication@greenskycapital.com or by visiting the website at http://www.greenskycapital.com/greensky-accelerator-fund/apply-to-the-fund/.
About GreenSky Capital Inc.
GreenSky Capital is a boutique corporate finance advisory firm based in Toronto, delivering customized financial solutions to small and medium sized businesses. GreenSky mandates are long-term partnerships with high growth potential companies and dedicated entrepreneurs where GreenSky supports the execution of strategic transitional events. GreenSky principals bring together a unique combination of experience in operations, investment banking and private equity. As an operator’s investment bank, GreenSky has the ability to bring extensive capital markets experience into a real-world context. GreenSky is focused on business and relationship building as well as the ultimate transaction. See www.greenskycapital.com.
About the GreenSky President’s Club
The GreenSky President’s Club is an exclusive not-for-profit angel investment group based in Toronto that provides members the opportunity to participate, both financially, and potentially as mentors, in high growth technology companies that are sourced, vetted and managed by GreenSky Capital Inc. For more see: www.greenskycapital.com/angel-network/.
About Cyclica Inc.
Cyclica improves drug discovery and development by reducing complex Big Data into high utility insights. These pre-clinical insights/predictions will improve current attrition rates of lead therapeutic compounds, and improve patient outcomes with fewer side effects. Through a partnership with IBM Research, Cyclica is creating vast stores of proprietary, pre-computed data that is useful for analyzing cross reactivity of molecules to assess safety and efficacy. As such, Cyclica risk adjusts development pipelines, and provides actionable analysis to help guide pharmaceutical development strategies. For more see: www.cyclicarx.com.
