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CIBC allots $450-million for U.S. venture capital investment

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CIBC designates $450-million to invest in venture capital funds mostly in the U.S. that provide later-stage growth equity funding and participate in Series C funding rounds raised by maturing companies

as demand for equity financing and venture debt from the burgeoning tech sector has exploded, fuelled by low interest rates and surging use of e-commerce, software services and health care technologies during the COVID-19 pandemic.

“This next envelope will largely go to our best U.S. venture capital relationships,” Mr. McQueen said. “The last 24 months, we’ve certainly made lots of inroads in Canada ... but our next push is to deepen the U.S. relationships.”

 

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