MONTREAL — Cycle Capital has closed a new $145-million cleantech fund, including a $10-million investment from Export Development Canada. 

The Montreal-based cleantech VC will use the fund, called Cycle Capital Fund IV, to invest mostly in North America, with a particular emphasis on Canadian companies. Cycle founder and managing partner Andrée-Lise Méthot told The Logic it would particularly target firms with “very deep intellectual property” that can reach international markets. “You want to have a financial impact, but we want to have impact in general, including CO2 reduction,” Méthot said.