Cycle Capital launches water-focused cleantech fund


The Montreal-based venture capital firm is allocating between $15 million and $20 million to the BleuImpact Fund, which will invest in early-stage companies. Cycle has hired Simon Olivier, former vice-president of GE Ventures’ business development in Canada, as a partner to lead the fund. (The Logic)

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Talking point: Olivier told The Logic the fund is the first one in Canada specifically focused on companies innovating around water. It will target startups developing technology in areas like wastewater management, flood mitigation and sustainable agriculture. (Farming uses more freshwater than any other sector.) The fund looking for companies that have a product on the market and are generating revenue, but may not necessarily be profitable. Olivier noted that the sector is broad and growing under the cleantech umbrella. “While the focus has been on CO2 over the last few years, I think the focus now is going to be increasingly on H2O,” he said. “Water is a huge amplifier of climate change. Whether it’s flooding, drought, tornados, this is how climate change impacts human beings.”