iNovia Capital has raised $110 million for its third fund, iNovia Investment Fund III L.P. iNovia III will build on the current strategy of backing exceptional founders and management teams transforming the Internet, Digital Media and Communications industries. "We have benefited from the support of top institutional and value added individual investors many of them return investors," said Chris Arsenault, Managing Partner. "In prior funds, these investors have enabled us to invest in some of the more important companies in the sectors we focus on. From this base, we can leverage the network we have built over the years to make impact investments and help grow these companies thereafter wherever they are located."

iNovia III received strong support from a comprehensive partnership of leading private and institutional Canadian investors, including; Teralys Capital, BDC Venture Capital, AVAC Ltd., Alberta Enterprise, the BC Renaissance Capital Fund and the iNovia General Partners.

"It is exactly this type of venture capital partnership that we see transforming venture capital and providing strong returns," said Eric Legault, Managing Partner, Teralys Capital. "iNovia has a successful and committed team with each partner bringing prior entrepreneurial experience. They have a focused sector approach and a unique access to an international network. They have stuck to their already successful model with a similar size fund. We believe this will be critical in mentoring our talented entrepreneurs and fueling a rebirth in venture capital both here in Quebec and more broadly across North America."

This fund also brings together more than fifteen highly successful entrepreneurs from Canada, the US and abroad as individual Limited Partners and venture partners. "Enabling our portfolio companies and our team to draw on the collective expertise of entrepreneurs that have already built large companies and shaped the industries we focus on is extremely helpful," said Shawn Abbott, Partner.

"We share iNovia's belief and commitment that world class companies can be built in Canada. We're supporting the iNovia team because we see them actively and successfully delivering connectivity for entrepreneurs in Alberta and across Canada with world class advisors and partners for their portfolio," said Rod Charko, President and CEO, Alberta Enterprise.

iNovia III's investment focus is in information technology companies in North America. The initial investment size can be as low as only a few hundred thousand in seed stage companies with more mature investments as high as $10 million over the life of a given company.

"BDC's investment in iNovia III is intended to help Canadian entrepreneurs create and grow successful, innovative technology businesses. As one of Canada's few nationally focused venture capital investors, BDC is very active in supporting the emergence of world-class venture capitalists such as iNovia," said Victor Scutaru, Director, Fund Investments, BDC Venture Capital.

About iNovia Capital
iNovia partners with exceptional entrepreneurs to build successful companies in high growth technology sectors. The team is comprised of entrepreneurs and sector experts focused on Mobile, Internet and Digital Media. iNovia has $275M under management across seed and early stage funds. For more information, visit www.inoviacapital.com or follow iNovia on Twitter at www.twitter.com/iNovia

About Teralys Capital
Teralys Capital is a technology�focused fund of funds financing private venture capital funds that invest in information technology, life sciences and cleantech companies. The fund has over $700 million in capital commitments from Caisse de dépôt et placement du Québec, the Solidarity Fund QFL and Investissement Québec. Teralys Capital is also managing two existing portfolios of venture capital funds with additional assets under management of over $600 million. It is currently the largest fund of funds in Canada. Visit www.teralyscapital.com for more information.

About BDC
Canada's business development bank, BDC, puts entrepreneurs first. With almost 1,900 employees and more than 100 business centers across the country, BDC offers financing, subordinate financing, venture capital and consulting services to 29,000 small and medium-sized companies. Their success is vital to Canada's economic prosperity. Visit www.bdc.ca for more information.

About Alberta Enterprise
Alberta Enterprise promotes the development of Alberta's venture capital industry by investing in VC funds that finance early stage technology companies. Launched with a $100 million investment from the Government of Alberta, Alberta Enterprise focuses on funds that have a strong commitment to Alberta - including a full-time presence in the province. The organization also supports Alberta's VC ecosystem by connecting investors, entrepreneurs, and experienced technology executives who share our passion for building a bright, innovative Alberta. Visit www.alberta-enterprise.ca for more information.

About AVAC Ltd.
AVAC continues to break ground in Alberta with a significant contribution to Alberta's emerging value-add industry, and the fledgling venture capital sector. In partnership with a wide array of partners, investees, and sponsors, AVAC continues to play a critical role as the experienced investor in early-stage companies. AVAC Ltd. has investment mandates in ICT (Information Communications Technology), Life Sciences, Industrial Technology, Agribusiness value-added (Agrivalue™) and Agriculture Research sectors. For more information, please visit www.avacltd.com.

About the BC Renaissance Capital Fund
The B.C. Renaissance Capital Fund Ltd. (the "BCRCF") is a Crown corporation that is wholly owned by the BC Immigrant Investment Fund (BCIIF). The purpose of the BCRCF is to attract successful venture capital managers and their capital to British Columbia in order to develop promising, innovative technology companies in the Province. The BCRCF was created for the purposes of pursuing investment in four key technology sectors: new media, information technology, life sciences and clean technology. To date, the BCRCF has committed capital to seven venture fund managers based in the United States and Canada that have approximately $2B in capital under management for investment. Visit www.bcrcf.ca for more information.