(January 18 – 09:50 ET) – A new venture capital fund is being created to invest in Canada’s business-to-business e-commerce arena.
Entrepreneurs Dennis Bennie, Michael Bregman and Tony van Marken say they have raised more than $130 million to form XDL Intervest Capital Corp., a new fund that will focus on investment opportunities in busines-to-busines e-commerce.
Bennie co-founded Delrina Corp. Bregman has founded a number of businesses including Second Cup Ltd., and van Marken is a former CEO of Architel Systems.
The balanced fund will invest in everything from start-ups to later-stage firms, focusing on companies that apply technology to create viable business models.
CIBC World Markets is the fund’s lead investor. Its advisory board is populated with a number of leading lights in Canadian business, including: Richard Ivey, chairman of Livingston Group Inc., Roger Martin, Dean of the University of Toronto’s Joseph L. Rotman School of Management, John Cassaday, president and CEO of Corus Entertainment Inc., Dale Lastman, co-chair of Goodman Philips & Vineberg, John Foresi, president and CEO of Delano Technology, Ruby Osten, former president of PC Docs, and Todd Finch, president of Sun-Netscape Alliance Canadar.
-IE Staff