Networking technology company Cisco has made a strategic investment in Georgian Partners Growth Fund II, the fund being raised by growth equity firm Georgian Partners to invest in software companies.
The amount provided by Cisco was not disclosed, but will be added to the $100m Canada-based Georgian raised for Fund II in February. Georgia will target expansion-stage companies pursuing enterprise software, particularly those focused on applied analytics, which incorporates cloud-based business technology, big data and information rights.
Cisco invested the cash just weeks after it announced plans to invest $150m in Canadian startups, incubators and venture capital funds through its Cisco Canada Innovation Program, in order to help spur innovation in the country.
Nitin Kawale, president of Cisco Canada, said: “Georgian Partners is at the forefront of investing in expansion-stage software companies, which in addition to their investment focus on big data and analytics, supports our own vision of the opportunity that the internet of everything represents and aligns to our commitment to fostering innovation in Canada.”
Investments by Georgian Partners over the past year include enterprise mobility company Kony, e-commerce platform Shopify and online education aid Top Hat.