HomeCanadaCycle Capital and H2O Innovations Hold Initial Close for C$30M Watertech Fund

Cycle Capital and H2O Innovations Hold Initial Close for C$30M Watertech Fund

H2O Innovation, Inc., and Cycle Capital announced the initial close of Cycle H2O Fund, a watertech venture capital fund with a targeted size of C$30m.

The Government of Québec, through Investissement Québec, acted as anchor investor and was joined by Boann Capital, Fonds Climat du Grand Montréal, The Atmospheric Fund, a number of family offices, and private investors as limited partners.

Managed by Cycle Capital and H2O Innovation, and led by Cycle Capital’s Senior Partner Simon Olivier, the fund is dedicated to supporting the development and commercialization of seed and early stage innovative watertech companies from Québec and Eastern Canada (in sustainable agriculture, green chemistry and water treatment digital technologies related to industrial water processes and water conservation) to meet the growing need for market-ready solutions.

Led by Andrée-Lise Méthot, Founder and Managing Partner, Cycle Capital is a ClimateTech venture capital platform scaling impactful sustainable innovation. Founded in 2009, the firm invests across North America, Europe and Asia in growing companies commercializing solutions to the major ecological challenges and contributing to a net-zero transition. It is the founder of Cycle Momentum Accelerator + Innovation Engine, and has developed an ESG and impact assessment methodology integrated into the investment workflow from the pre-investment phase to the exit of the portfolio company.

Led by Frédéric Dugré, President and Chief Executive Officer, H2O Innovation is a water solutions company focused on providing technologies and services to its customers. The Corporation’s activities rely on three pillars: (i) Water Technologies & Services (WTS) applies membrane technologies and engineering expertise to deliver equipment and services to municipal and industrial water, wastewater, and water reuse customers, (ii) Specialty Products (SP) is a set of businesses that manufacture and supply a complete line of specialty chemicals, consumables and components for the global water treatment industry, and (iii) Operation & Maintenance (O&M) provides contract operations and associated services for water and wastewater treatment systems.