Today's News

Vancouver, BC, January 26, 2023--(T-Net)--Pender Ventures announced today the first $50 million close of their second fund, Pender Technology Inflection Fund II (PTIF II), dedicated to investing in B2B software and health tech at the inflection point between commercialization and scale.

Pender Ventures says it plans to raise $100-million in total for its second fund after backing B.C. software stars Copperleaf and Jane.

Pender Ventures launched in 2018 with their first fund, PTIF I. The founding investment team and firm, PenderFund Capital Management, have been investing in high potential technology companies for more than 20 years across multiple market cycles.

"The company says their vision was to focus on fundamental investment principles: strong unit economics, tangible value creation and large market opportunities. Our mission was to build alignment, transparency and focus in our relationships with portfolio companies and our investors", said the company in its announcement.

"The strong performance of PTIF I has validated our strategy while demonstrating our ability to find and support enduring companies with best-in-class technology solutions, built by diverse management teams, that positively impact their stakeholders. Working alongside these entrepreneurs, we have been able to deliver our Fund I investors positive initial returns as well as meaningful co-investment opportunities".

As they launch PTIIF II, the company says it has support from existing institutional investors, Export Development Canada (EDC) and Vancity, as well as other individual founding investors. They also announced new investors Bank of Montreal (BMO) Capital Partners, Kinsted Wealth, Canadian Imperial Bank of Commerce (CIBC), Pender Growth Fund and many more.

Pender Ventures says it has already completed three investments in Fund II: DistillerSR (Formerly Evidence Partners), Traction Rec and Traction Complete.

The company says it expects to close Fund II with additional commitments in the coming months.

More details and the company's full announcement can be found here and here.

About Pender Ventures

We are tech investors with a passion for health care

At Pender Ventures, we invest in B2B software and health tech startups at the inflection point between commercialization and scale. We focus on Canadian companies but can invest across North America. We are actively investing out of our second fund, so whether you're a founder, investor, service provider or ecosystem champion, we'd love to connect.

[1] Please note that Fund II is a separate and distinct fund from Fund I and that the results of our first fund are not indicative of the performance of our second fund.