CIBC backs White Star

CIBC Innovation Banking has provided a refinancing of White Star Capital’s capital call line. No financial terms were disclosed. In June 2018, White Star closed its second fund at US$180 million. White Star Capital is a tech-focused early-stage venture firm that invests in North America and Europe. The firm has offices in Montreal, New York, London, Paris, Tokyo and Hong Kong.

PRESS RELEASE

CIBC Innovation Banking is pleased to announce it has provided a refinancing of White Star Capital’s capital call line.

Established in 2014, White Star Capital is a premier global venture capital fund led by seasoned entrepreneurs and investment professionals, Eric Martineau-Fortin and Jean-François Marcoux. White Star Capital has raised more than $250 million (USD) to date across two funds and several SPVs. It is supported by a global investment team of more than 20 people with offices in Montreal, New York, London, Paris, Tokyo and Hong Kong.

White Star Capital is a multi-stage investment platform backing technology companies with global ambitions, focusing on both the consumer (Commerce and B2C Marketplaces) and enterprise (SaaS & B2B Marketplaces) verticals. White Star Capital’s Fund II investments include Tier Mobility, Meero, Clark, Borrowell, Butternutbox, Dialogue and Vention.

“White Star Capital is the type of venture fund that CIBC is proud to partner with as they combine a global footprint and an entrepreneurial investment team,” said Rob Rosen, Managing Director, CIBC Innovation Banking.

“We are excited to work with the outstanding White Star Capital team as they reap the benefit of being a venture capital fund with Canadian roots that’s pursuing investment activities around the world,” said Eric Laflamme, Managing Director, CIBC Innovation Banking, Quebec Region.

“The team at CIBC Innovation Banking is a key partner of ours because they have a keen understanding of the business environment our portfolio companies operate in, while helping us efficiently manage our Fund II’s capital flows,” added Jean-Francois Marcoux, Managing Partner at White Star Capital.

About CIBC Innovation Banking
CIBC Innovation Banking delivers strategic advice, cash management and funding to North American innovation companies at each stage of their business cycle, from start up to IPO and beyond. With offices in Atlanta, Austin, Chicago, Denver, Menlo Park, Montreal, Reston, Toronto and Vancouver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking and capital markets businesses in the U.S. and Canada. CIBC Innovation Banking is a brand name under which CIBC and CIBC Bank USA provide products and services.

About White Star Capital
White Star Capital is a global venture capital fund and multi-stage technology investment platform investing in North America, Europe and Asia. The team backs exceptional entrepreneurs globally, leveraging their extensive experience and networks to help them scale their businesses internationally. They are a multinational team of entrepreneurs and operators brought together by their extensive experience in early-stage startups. Their partners benefit from their diverse range of skills, languages, and truly global networks.