Montreal’s iNovia has added to its team two technology industry veterans: Scott Munro and Todd Simpson.
The early stage venture capital firm’s increased presence in the Bay area and Silicon Valley will accelerate portfolio growth and the building of strategic relationships, the Canadian company says.
“Building strong corporate and strategic relationships in the Bay area and around Silicon Valley has proven highly successful for some of our most promising Canadian portfolio companies such as: Allocadia, AppDirect, Lightspeed, Vidyard, TopHat, Clearpath Robotics and Thalmic Labs,” explains Chris Arsenault, iNovia’s Managing Partner. “So, we looked for successful entrepreneurs and CEOs in Silicon Valley who also had strong ties with Canada to further support our growing portfolio. We are excited to announce that we have teamed up two such individuals.”
Scott Munro is former CEO of Savoir Technology Group, a company he grew from $50 million to a $1 billion run rate prior to selling the company. He also founded Pagemill Partners, a Palo Alto-based middle market investment bank which was acquired by Duff & Phelps.
“Having previously worked on a transaction with iNovia, I knew the positive culture and team dynamic,” sais Munro. “We each have a passion for helping great entrepreneurs achieve their goals and I’m looking forward to adding my knowledge in M&A to the benefit of all.”
Todd Simpson is an entrepreneur originally from Calgary, and now lives in the Bay area. He was Chief Strategy Officer at AVG, Chief of Innovation at Mozilla, and had CEO roles in both public and private companies.
“Having built several startups and run both public and private companies, and with a strong desire to give back to Canada, I jumped at this opportunity at iNovia,” says Simpson. “Giving iNovia a permanent presence in the Valley will allow us to provide even more guidance and value to our portfolio, while helping with partnering and exit strategies.”