News Release: Pender Technology Inflection Fund makes first investment
Pender Technology Inflection Fund I Limited Partnership (“the Fund”) managed by PenderFund Capital Management Ltd. (“Pender”) announces that it has made its first investment. The Fund led a $6.3 million financing of Clarius Mobile Health, Inc., with participation from Export Development Canada (“EDC”) and other investors. The company will use the capital to fund overall growth, including expanding its sales and marketing efforts, and continued product development.
“With the combination of ultra-portability and high performance at a cost-effective price, Clarius has the ability to disrupt the point-of-care market for ultrasound and transform the digital health industry,” said Maria Pacella, SVP, Private Equity, Pender. “We are very excited to invest in the proven team of entrepreneurs with deep domain experience.” Ms. Pacella has joined the Board of Directors of Clarius.
“This financing will allow us to scale commercial operations. We are excited to work with a group of investors that will help us take Clarius to the next level,” said Laurent Pelissier, Chairman and CEO of Clarius.
“Helping Canadian companies scale up and grab hold of opportunities in the global market is exactly what EDC is here for,” said Mairead Lavery, Senior Vice-President, Business Development at EDC. “Clarius has seen great success so far and we hope to see this investment put their innovative technology in the hands of more practitioners around the world.”