McRock Capital launches $100 million Industrial Internet of Things fund with global investors

1 minute read
30 August 2019

On Aug. 30, 2019, McRock Capital held an initial closing on its second venture capital fund, McRock Fund II LP, dedicated to investing in the global trend around the Industrial Internet of Things (IoT).  For the initial closing, the new Fund reached over 80% of its targeted $100 million.

Investors include Cisco Investments, Shell and other significant corporate and institutional investors including BDC Capital, Export Development Canada, Alberta Enterprise Corporation (AEC), and HarbourVest.

Gowling WLG was counsel to McRock Capital with a team that included Derek Keay, Alan James and Joseph McDonald (corporate/fund formation), Ash Gupta (tax) and Elisa Scali (employment).

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