The Toronto-based venture fund, which invests in internet of things companies, surpassed its $100-million target for McRock Fund II LP. The money came from Aspen Technology, Fonds de solidarité FTQ, Caterpillar Ventures, Mitsubishi Corporation, Teralys Capital, Kensington Capital Partners and a large undisclosed pension fund. (BetaKit)

Talking point: McRock was co-founded by Whitney Rockley and Scott MacDonald in 2012 and counts Miovision, Praemo, Mnubo and Invixium among its portfolio companies. McRock Fund II LP raised $80 million in a first round that closed in September 2019, from Cisco Investments and Shell, among others. McRock hopes to use the fund to further invest in high-growth companies that “are combining next generation data analytics through artificial intelligence (AI) with the growing data from field devices, machines, and equipment in industrial and urban environments.”