Pender Ventures Secures $10 Million Investment from InBC to Support B2B Software and Healthcare Startup Ecosystem

VANCOUVER, British Columbia, Nov. 16, 2023 (GLOBE NEWSWIRE) — Pender Ventures is pleased to announce that InBC Investment Corp. (“InBC”) has made a $10 million investment in the Pender Technology Inflection Fund II (“PTIF II” ).

InBC is a Crown corporation that manages and invests a $500 million strategic investment fund established by the Province of BC to support high-growth companies and venture capital funds serving British Columbians.

“InBC’s approach and philosophy align perfectly with our fundamental mission to bridge the capital gap for entrepreneurs. Our goal is to nurture a more diverse startup landscape and help them achieve growth on a global scale. By doing this, we believe we will deliver better performance everywhere for companies in BC and across Canada,” said Maria Pacella, Managing Partner of Pender Ventures. “We are extremely grateful for the support from InBC.”

Pender Ventures has been investing in technology companies in BC for years. Founded in Vancouver, the company recognizes BC as a vibrant and growing innovation hub, supported by a highly skilled and diverse workforce that continues to drive the region’s technological advancements and economic development. Pender Ventures invests in B2B technology and healthcare startups at the inflection point between commercialization and scale. Pender Ventures also integrates a robust Environmental, Social, and Governance (“ESG”) framework to manage risks and identify opportunities, always with a keen awareness of the impact the company’s choices have on communities and the environment.

“Pender Ventures has strong roots in BC, along with a proven track record of supporting entrepreneurs and scaling innovative health technology and software companies,” said Leah Nguyen, Chief Investment Officer of InBC. “Their commitment to impact and ESG, and focus on healthcare, aligns with our mandate to build a more inclusive, sustainable and prosperous future. Investing in venture capital funds like Pender Ventures will allow us to scale our investment capacity to reach more founders and businesses and will help drive innovation and build an economic future for the province that is thriving and resilient.”

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InBC’s investment substantially advances PTIF II toward its targeted $100 million size and final close.

Pender Ventures is actively evaluating and exploring additional investment opportunities and welcomes inquiries and collaboration from entrepreneurs and co-investors from across Canada.

About Pender Ventures

Pender Ventures is a thesis-based venture capital investor focused on B2B software and healthcare startups at the inflection point between commercialization and scale. As hands-on, high-conviction investors, Pender Ventures’ diverse team leverages decades of experience to add operational and strategic value to its portfolio companies.

For more information, please visit www.penderventures.com. Read important notices at www.penderventures.com/disclaimer.

About InBC Investment Corp.

InBC Investment Corp. is a strategic investment fund established by the Province of British Columbia with $500 million to invest in growing businesses and funds to benefit the people of British Columbia. It aims to attract, retain and grow businesses, while generating financial returns in addition to measurable economic, social and environmental impacts.

About PenderFund Capital Management Ltd.

Founded in 2003, Pender is an independent, employee-owned investment firm based in Vancouver, British Columbia. Our goal is to protect and grow our investors’ wealth over time. We have a talented investment team of expert analysts, security selectors and independent thinkers who actively manage a range of differentiated private and public equity and fixed income investment funds, exploiting inefficient parts of the investment universe to achieve our purpose. Visit www.penderfund.com. Read important notices at www.penderfund.com/disclaimer.