McRock Industrial Internet Fund Attracts Investment from Cisco and Teralys

mcrock 29 jan 22 2015 mcrock attracts investment cisco and teralys pic - square

Toronto, Ontario–(January 22, 2015) – McRock iNFund LP, an Industrial Internet of Things (IIoT) venture  capital fund managed by McRock Capital, has held a second close with new investments from Cisco Investments and Teralys Capital Innovation LP, a fund manager financing private venture capital funds  with more than $1.5 billion in assets under management. BDC Capital also increased its investment commitment to the fund in the latest closing.  

McRock is focused exclusively on the intersection of sensors and software in large industrial markets, an  area known as the IIoT. The fund will invest in high growth private companies across North America. It is specifically targeting large industrial markets looking to maximize the efficiency of operations by  connecting the unconnected and using software to make machines, equipment and devices run more  intelligently. A final fund close is scheduled in 2015 with a cap of $65 million. 

“The addition of Cisco Investments and Teralys to our investor base further validates the tremendous  momentum and appeal of the IIoT,” said Whitney Rockley, co-founder and managing partner of McRock  Capital. “We are excited to work closely with Cisco Investments, an incredibly strategic investor for  McRock, and two of Canada’s largest fund-of-funds investors, Teralys and BDC, to build global IIoT  companies together.” 

“What makes this so exciting is that only one percent of the world’s devices are connected today,” said  Paul Howarth, director, Cisco Corporate Development. “The founders of McRock Capital have deep  experience investing in Industrial software companies and are incredibly well positioned to capitalize on  the next evolution of the Internet. We are delighted to invest in McRock under our Cisco Canada  Innovation Program.” 

“Teralys is excited to be joining McRock, a specialized investment fund dedicated to the rapidly growing  Industrial Internet of Things sector,” said Eric Legault, managing partner of Teralys Capital. “The  founding partners of McRock have backed some very successful entrepreneurs and early disruptors in 

the past and will use their experience to support the next generation of high growth companies in that  sector. The creation of a new venture capital franchise is a great development for the venture capital  ecosystem in Canada.” 

About McRock Capital 

McRock Capital is a venture capital firm making investments in North American companies offering  Industrial Internet of Things software and sensor solutions for the grid automation, digital oilfield,  advanced manufacturing and smart city markets. For more information, visit www.mcrockcapital.com.  Follow McRock Capital on Twitter @McRockCapital