Two new partners join MSBi Capital
Venture capital fund ramps up for new growth
Montreal, Canada, May 9, 2007 – MSBi Capital, a venture capital fund that specializes in sectors such as software, semiconductor, medical devices, biopharmaceuticals, cleantech and advanced technologies, today announced the addition of two new partners with long track records in finance and the commercialization of innovations: François Gauvin, who will also be MSBi Capital’s Chief Financial Officer, and John Elton.
“These two new additions to the team bring a wealth of experience to the table,” Mark de Groot, President and CEO of MSBi Capital, said. “We are indeed pleased to have attracted such high-calibre talent, at the very moment we are embarking on a new phase of growth.”
François Gauvin joins the team from the Solidarity Fund QFL, a major investor in the Quebec arena. There he was responsible for managing the fund’s $250 million external technology fund portfolio, made up of Canadian and foreign-based investments. The Solidarity Fund is a key partner of MSBi Capital’s, which close relationship is strengthened by François’ arrival. Prior to that François held senior positions in finance and accounting at Teleglobe, BCE, Steinberg and Coopers and Lybrand (now PriceWaterhouseCoopers). He is a Chartered Accountant by training.
“I am happy to be joining such a dynamic and entrepreneurial group,” Mr. Gauvin said. “MSBi has established a solid foundation and has cultivated an extraordinary portfolio of companies in key growth sectors. We have the focus, we have the talent, and we are well positioned for growth, which we will be pursuing aggressively.”
John Elton has a successful international track record in the commercialization of innovation, building early stage companies and venture capital investing, with Turnstone Capital, Gulf International Bank (UK), 24/7 Real Media and Veronis Suhler Stevenson. Most recently he was a consultant to a key partner of MSBi’s, McGill University’s Office of Technology Transfer, the relationship with whom will also be strengthened by John’s arrival.
“I am looking forward to putting my experience in commercialization, finance and strategy to use in such an enterprising environment,” Mr. Elton said. “This is a very strong team, and they have an impressive network of partners who are on the front lines of innovation. I am anticipating great things for the future.”
About MSBi Capital
MSBi Capital manages seed and early stage venture capital funds and focuses on helping entrepreneurs and innovators build successful companies in the sectors of information technology, life sciences and cleantech. MSBi Capital’s value-added approach to early stage investing provides portfolio companies with capital, unique access to intellectual property from its partner academic institutions and an extensive network of industry partners, advisors and sector-specific co-investors. For more information see www.msbi.ca
Zara Myles, MSBi Capital