SARNIA, Ont. – A building block for the support of early-stage Canadian bioeconomy and cleantech companies has been announced by Bioindustrial Innovation Canada (BIC).

BIC has signed a Memorandum of Understanding (MOU) with each of five key venture capital firms investing in the Canadian bioeconomy and cleantech space. It is the intention of these companies to work with BIC to seek out potential co-investment opportunities.

The five organizations that have executed these agreements with BIC are:

  • ArcTern Ventures
  • Cycle Capital Management
  • Fraser Mackenzie Merchant Capital
  • GreenSky Capital
  • Sofinnova Partners

“We are extremely pleased to have such significant organizations in the bioeconomy and cleantech investment space indicate their willingness to partner with BIC to seek investment opportunities. This enhances BIC’s ability to support early stage companies with clean, green and sustainable technologies for the benefit of Ontario and Canada,” commented Sandy Marshall, executive director of BIC.

Bioindustrial Innovation Canada is a nationally focused not-for-profit organization that provides critical strategic investment, advice and services to business developers of clean, green and sustainable technologies. A key element of BIC is its ability to lever its investment funding by forming strong working alliances with other venture capital funding organizations.