Yaletown Partners Announces First Close of $250 million Innovation Growth Fund III

VANCOUVER, BC, July 30, 2025 /PRNewswire/ -- Yaletown Partners, a leading technology investment firm, is pleased to announce the first close of its latest venture capital fund, Innovation Growth Fund III (IGF III), at $100 million. The third and largest in the franchise, IGF III represents the eighth fund in Yaletown's family of funds, and the first close of IGF III alone brings Yaletown's total active funds under management to approximately $600 million.

IGF III continues Yaletown's Intelligent Industry thesis, investing in the enablement layer—digital infrastructure technologies such as advanced analytics, edge computing, networking and physical AI. These technologies are foundational to the digital transformation of real-world sectors such as energy, manufacturing, logistics, agriculture, and transportation. The fund is designed to back companies driving productivity, resiliency, and sustainability in these strategic industries.

The fund's first close brings together a coalition of returning and new institutional investors, including pension funds, financial institutions, government investment corporations, Indigenous groups, impact investors and family offices.

"We believe Yaletown's approach to Intelligent Industry investing presents a compelling opportunity to generate strong returns while supporting Canada's industrial transformation," said Hanz Gin, Managing Director, BMO Capital Partners. "Yaletown's track record of identifying and scaling companies at the forefront of industrial and technological transformation aligns with our commitment to backing high-performing businesses that are shaping the future of the Canadian economy."

"Yaletown's continued focus on scaling Canadian technology companies with strong export potential—particularly in sectors like artificial intelligence, digital transformation, and climate-resilient technologies—aligns closely with EDC's focus on helping mid-market Canadian firms grow and compete globally," said Lissa Bjerkelund, Vice-President, Investments and Mid-Market Lending at Export Development Canada. "We're proud to support IGF III through this latest commitment, reinforcing a long-standing partnership and helping Canadian innovators deliver transformative solutions that open new trade corridors, boost productivity, and strengthen Canada's global competitiveness."

"We're excited to deepen our relationship with Yaletown as they continue to advance high-impact technologies to benefit the entire ag and food ecosystem," said Adam Smalley, Managing Director, Farm Credit Canada Capital. "IGF III is the kind of investment platform that generates ongoing innovation and productivity in agriculture, helping Canadian farmers and food processors continue delivering high-quality products to feed families across Canada and around the world."

"InBC is pleased to support Yaletown again through our investment in IGF III – our first subsequent commitment in a venture fund," said Heather Tanaka, Investment Principal at InBC. "Yaletown's focus on the Intelligent Industry is advancing digital transformation and building future-ready industries across B.C. IGF II, which was one of InBC's first commitments, has already backed a number of groundbreaking B.C. technology companies. We are excited for IGF III to continue this momentum scaling businesses driving innovation and economic growth in B.C."

Yaletown's proprietary Responsible Investment and Insights platforms remain core to its differentiated approach. These platforms support portfolio companies and provide limited partners with access to market intelligence, curated connections, and real-time insight into emerging technologies reshaping the real economy. With IGF III, the firm deepens its conviction that digital transformation is the most scalable lever for accelerating industrial competitiveness.

"We brought IGF III together in record time amidst one of the more complex funding environments in the last decade. We are deeply grateful to our IGF III investors for their confidence in our platform. Our conviction has never been stronger that investing in technologies enabling the digital transformation of asset heavy industries is the most scalable lever for accelerating industrial competitiveness and also positioned to deliver excellent returns," said Salil Munjal, Managing General Partner at Yaletown.

About BMO Capital Partners

Established in 1998, BMO Capital Partners is a Canadian-based investor with $2.1 billion under management. Its evergreen investment program is built upon growth equity and venture capital funds, sub-debt, convertible debentures/notes, and minority equity. BMO Capital Partners invests across a broad range of industries to support companies in all stages of growth with acquisitions, buyouts, expansions, restructurings and growth capital. Learn more at www.bmo.com.

About Export Development Canada (EDC)

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians. Learn more at www.edc.ca or call us at 1-800-229-0575.

About Farm Credit Canada (FCC)

FCC is proud to be 100 per cent invested in Canadian agriculture and food. The organization's employees are committed to the long-standing success of those who produce and process Canadian food. FCC provides flexible financing and capital solutions, while creating value through data, knowledge, relationships, and expertise. FCC offers a complement of financial and non-financial products and services designed to support the complex and evolving needs of the industry. As a commercial Crown corporation, FCC is a stable partner that reinvests profits back into the industry and communities it serves. Learn more at www.fcc.ca.

About InBC Investment Corp. (InBC)

InBC is a strategic investment fund established by the Province of British Columbia (B.C.) to invest in growing, innovative companies and venture funds. The fund is investing to generate financial returns alongside economic and social impacts for British Columbia. InBC's investments are supporting long-term economic growth for communities across B.C. It is anchoring promising companies to continue growing and staying in the province, creating jobs and boosting innovation, including growing research and development and intellectual property in B.C. Learn more at www.inbcinvestment.ca

About Yaletown Partners

Founded in 2002, Yaletown Partners is an investment firm backing emerging growth technology companies transforming critical industrial sectors through digital infrastructure, AI, and automation. With over $600 million in active assets under management and offices across North America, Yaletown is a recognized leader in responsible innovation investing. Learn more at www.yaletown.com.

Contact:
Yumi Maihara
Marketing & Events Manager, Yaletown Partners Inc.
Email: [email protected]
Phone: 604.688.7807 Ext 2204

SOURCE Yaletown Partners Inc.