Toronto, Ontario and Calgary, Alberta –(Feb 23, 2016) – McRock Capital Corporation announced today it has opened a Western Canadian office in Calgary, Alberta and added Jeremy Gilman as Principal. McRock manages a $65 million dedicated Industrial Internet of Things (IIoT) venture capital fund backed by leading institutional and strategic investors including Alberta Enterprise Corporation, BDC Capital, Cisco Systems, EDC, Électricité de France (EDF), HarbourVest, Kensington Capital, and Teralys Capital. McRock was founded by entrepreneurial VCs, Scott MacDonald and Whitney Rockley and has announced significant investments in RtTech Software, mnubo and Invixium.
“The opening of our office in Western Canada is an important extension of our investment reach into the digital oilfield sector, an exciting sub-segment of the IIoT,” said Whitney Rockley, Co-founder and Managing Director at McRock. “We are thrilled to have Jeremy Gilman join our team. Prior to McRock, he spent seven years at a prominent energy-focused private equity firm based in Calgary. Jeremy is a skilled investment professional who shares our entrepreneurial DNA.”
“The IIoT is being called the next major industrial revolution by many technology leaders and McRock Capital will provide Alberta-based companies focused on the IIoT with critical expertise and a source of investment capital”, stated Kristina Williams, CEO of Alberta Enterprise Corporation. “We are very excited to have McRock join Alberta’s growing and diversified technology community.”
“The oil and gas industry is facing new challenges as exploration and development of unconventional resources increases,” said Jeremy Gilman, Principal at McRock. “New sensors and data analytics will allow an unprecedented level of insight into reservoirs while improvements in monitoring, control, and process automation will lead to increased efficiency and cost reduction – particularly important in an uncertain commodity price environment.”
About Alberta Enterprise Corporation – Alberta Enterprise Corporation promotes the development of Alberta’s venture capital industry by investing in venture capital funds that finance early stage technology companies. Alberta Enterprise focuses on funds that have a strong commitment to Alberta – including a full-time presence in the province. In addition to capital, Alberta Enterprise supports Alberta’s venture capital ecosystem by connecting investors, entrepreneurs, and experienced technology executives who share our passion for building a bright, innovative Alberta.
Since inception, Alberta Enterprise has committed $105 million of investment to nine VC funds and the Accelerate Fund, covering a diverse range of forward-looking industries including clean and energy technologies, information and communications technologies, life sciences, and agriculture and food. Visit www.alberta-enterprise.ca or follow on Twitter @ABEnterpriseCorp.
About McRock Capital – McRock is the first dedicated Industrial Internet of Things (IIoT) venture capital fund focused on the intersection of sensors and software in large industrial markets. The McRock team has a unique background of building high-growth venture-backed IIoT companies while also having worked in the power, water, oil and gas industries. McRock is backed by several leading institutional investors as well as Cisco Systems and Électricité de France (EDF). Visit www.mcrockcapital.com or follow on Twitter @McRockCapital.