Conexus Credit Union invests $15 million into Conexus Venture Capital (CVC) Fund #2 to champion a thriving Saskatchewan
CVC Fund #2
Regina, Saskatchewan, May 27, 2024 – Conexus Credit Union and Conexus Venture Capital Inc. have announced the launch of CVC Fund #2, a new venture capital fund hyper focused on backing Saskatchewan’s top high-growth tech companies. The ambitious fund is aiming to raise $30 million. CVC Fund #2 has secured an initial investment of $15 million from Conexus because of the credit union’s dedication to propelling Saskatchewan startups and supporting the province’s economy.
Conexus Venture Capital Inc. made the announcement on May 22 live on stage at the “Uniting the Prairies” conference in Saskatoon, the prairie provinces’ premier startup-focused tech conference where founders connect with active investors and tech leaders.
“We’re doubling down on our commitment to the Saskatchewan tech ecosystem,” says Jordan McFarlen, Managing Director of Conexus Venture Capital Inc. “We believe in the founders of this province and their ability to build breakthroughs in industries around the globe.”
“We know that before Conexus Venture Capital Inc.’s first fund, Saskatchewan startups received less than 0.5 per cent of all venture capital funds deployed across Canada in 2017,” says Celina Philpot, Conexus Chief Executive Officer. “Since Conexus Credit Union launched Conexus Venture Capital Inc. in 2019, we have facilitated the investment of $66 million into helping businesses grow, including 13 based right here in the province.”
“Conexus is dedicated to championing a thriving Saskatchewan. No one knows the Saskatchewan tech ecosystem better than our team. The opportunities in our province and our confidence in this team is why Conexus Credit Union is excited to announce its significant investment of $15 million into CVC Fund #2.”
Building on the success of CVC Fund #1 and the tech incubator Cultivator powered by Conexus, CVC Fund #2 is another offering that demonstrates Conexus’ support of tech startups, the economy, and our member’s success in Saskatchewan.
