Canada-based venture capital firm McRock Capital has closed its $65m McRock InFund after securing capital from energy utility EDF and Cisco Investments, the corporate venturing unit of networking equipment manufacturer Cisco.
McRock held the final close after private equity firm HarbourVest committed cash through its Canada Growth Fund, joining a consortium also featuring Alberta Enterprise Corporation, BDC Capital, Export Development Canada, Kensington Venture Fund, Teralys Capital Innovation and assorted private investors.
Cisco had committed capital in January 2015, making it McRock’s first strategic partner, while EDF joined the group in July.
The fund is targeting early-stage companies in the industrial internet of things sector, and will make investments sized between $2m and $4m.
McRock has already backed a $3m round raised by RtTech Software, a developer of monitoring software for industrial facilities, in February this year, and a the $6m round closed by data analytics technology provider Mnubo’s $6m in May.