McRock Fund II reaches $112 million adding AspenTech and Fonds de solidarité FTQ as investors

On June 4, 2020, McRock Capital held a subsequent close on its latest venture capital fund, McRock Fund II LP, dedicated to investing in the global trend around the Industrial Internet of Things (IoT).

The fund exceeded its target, reaching $112 million with the announcement of new commitments from Aspen Technology, a global leader in asset optimization that is embedding artificial intelligence throughout industrial processing environments, and the Fonds de solidarité FTQ.

McRock Fund II was launched in 2019 with participation from Cisco Investments, Caterpillar Ventures, Shell, Mitsubishi Corporation, BDC Capital, Export Development Canada, Teralys Capital, Alberta Enterprise Corporation, HarbourVest, Kensington Capital Partners and a large pension fund.

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