GreenSky Accelerator Fund IV
GreenSky Capital Inc. (“GreenSky”) is very pleased to announce the first close of its fourth affiliated venture fund, the GreenSky Accelerator Fund IV, LP (“The Fund”). The Fund has $15 million to invest in Canadian early-stage technology companies. The Fund’s limited partners are composed of a network of private Canadian and U.S. investors, many of whom have either invested in GreenSky’s previous three funds or were introduced by those who have.
“With Fund IV, we were excited to not only double the size of assets under management,” said Mike List, one of GreenSky’s Managing Partners, “but to double the size of our limited partnership investor base. Fund IV, which we will deploy over the next two years, will allow GreenSky to remain one of Canada’s leading early-stage institutional investors. We anticipate making Seed Round investments of approximately $1M per deal and welcome any expressions of interest from early-stage B2B focused Canadian companies seeking seed round funding and the operational, strategic, and technology support that comes from our decades of experience as entrepreneurs and operators.”
First Investment in anessa
While securing capital commitments for Fund IV, GreenSky has continued to build a pipeline of investment opportunities, and we are very pleased to announce that on June 1, 2021, Fund IV closed its first investment, leading an investment round in New Brunswick-based anessa.
Anessa provides software solutions for the rapidly growing biogas industry. Anessa’s cloud-based software platform assists in planning the development of new projects and optimizes the operations of existing facilities. Anessa targets the operation of medium-size biogas plants and as an early entrant into the market, has already demonstrated significant traction, with a robust pipeline of additional potential customers. Fund IV was joined by a number of existing Atlantic-based Canadian investors including the New Brunswick Innovation Foundation, Concrete Ventures, East Valley Ventures and other angel investors.
According to anessa CEO Amir Akbari, “We are excited to have GreenSky as an investor. GreenSky believes in our technology and vision in the growing market of biogas and renewable natural gas. Their technical and business understanding of the renewable energy market is a great fit for anessa. This new investment will help bring the benefits of anessa’s technology to more biogas facilities globally as we expand our sales and marketing. We are passionate about helping our clients to effectively utilize waste materials for production of renewable energy. No other platform can provide the predictive analytics that our technology can, thereby de-risking critical decisions and ensuring a higher level of success.”
Greg Stewart, GreenSky’s other Managing Partner, added, “We believe that anessa has identified a real – and currently unfilled – market need. Since launching their AD-O and AD-A products for the biogas industry not long ago, they have significantly grown their sales and built a series of critical relationships.” He continued, “We are also excited to be making our first investment in a company from Canada’s Atlantic provinces. We hope to make many more in the future.”
About GreenSky Capital Inc.
GreenSky Capital Inc. is an award-winning Toronto-based firm that manages a series of venture capital funds that invest in early stage early-stage B2B focused Canadian start-ups. GreenSky looks for long-term partnerships with high-growth potential companies and dedicated entrepreneurs and focuses on companies with complex intellectual property seeking support scaling their businesses. Our partners are all successful entrepreneurs with multiple exits that bring a unique combination of experience in technology, law and finance into a real-world context. See www.greenskycapital.com.
Anessa is a New Brunswick based company providing software solutions in the biogas market. Serving its clients globally with an innovation for computer simulation of a biogas facility to accurately predict project feasibility and production performance. With clients in three continents and 11 countries it is a fast-growing company in an expanding market. See www.anessa.com.