A new Vancouver-based venture capital fund has hit the $100 million mark and is looking to make major investments in the Canadian digital media scene.
Vanedge Capital wants to focus on the development of interactive digital media companies that can build an edge in emerging Asian markets. The fund is backed with a starting line of industry heavyweights and a host of partners, investors and government support. Vanedge partners include technology fund Teralys Capital, BDC Venture Capital and Vancouver-based investment firm Nicola Wealth Management Ltd. The B.C. Renaissance Capital Fund, a crown corporation designed to attract venture capital managers, has also kicked in some funding. Vanedge will be headed up by Paul Lee, the former president of EA Worldwide Studios; Glenn Entis, an Academy Award winning computer graphics designer; Divesh Sisodraker, the former head of Lower Mainland software company Pivotal Corp.; and Jason Chein, who was EA’s general manager in China and worked for Microsoft there as well. “Vanedge will be a great partner to successfully identify and grow emerging technology companies …” said Teralys managing partner Eric Legault. “The fund will capitalize on the deep ecosystem in interactive digital media that has developed primarily in Quebec and British Columbia, supporting Canada’s ability to produce world class developers of digital media and gaming.” The fund didn’t say when the first investments would likely be made.
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