Cycle Capital’s 2021 Year in Review

Ringing the IPO Bell with ESS Inc. (NYSE: GWH)

One of the proudest moments in venture capital is helping a startup through its early growing pains to an initial public offering. The team completed the going public transaction of ESS Inc. via SPAC on the New York Stock Exchange under the ticker GWH with investors such as Fidelity, Breakthrough Energy Ventures, SoftBank Energy and BASF.

New Investments

In 2021, Cycle Capital’s portfolio companies raised eight rounds of financing totaling $260M. Notable rounds include a round of $150M US in Gan Systems led by Fidelity, Vitesco, BDC, and numerous other partners who took part.

The People Behind Cycle Capital

At Cycle Capital, our team is our strength. In 2021, we promoted three of our valued team members, and we welcomed eight new employees to our diverse and gender-neutral team of 27.

  • Dan Pinault promoted to Partner
  • Gary Berdowski promoted to Associate
  • Catherine Bérubé, now also leading Cycle Central
  • Alia Drouin, Director, Impact Investment and Public Affairs
  • Maya Hassa, Analyst
  • Christine Forget, Executive Strategic Advisor
  • Vincent Lamontagne-Lafrenaye, Open Innovation Program Manager
  • Gabriel Samson, Analyst
  • Hans Rogg Desormeaux, Analyst Open Innovation and acceleration
  • Odette Diouf, Accounting assistant
  • Marie Bonneval, Accounting assistant (interim)
  • And most recently, Manuelle Côté, Project Manager, Communications & Marketing

Making an Impact

At Cycle Capital, we don’t believe in half measures, which is why we have invested in implementing tools to monitor ESG and impact metrics. To this effect, we’ve integrated the impact evaluation in the quarterly reporting of our most recent fund. We have also recruited a new resource, Alia Drouin, which, in collaboration with the investment team, supports our companies in monitoring their non-financial performance.

Cycle Momentum

This year, Cycle Momentum tripled its team and doubled the number of companies accelerated, moving from 10 to 20, totaling to more than 75 ventures accelerated since 2015. Graduated companies have raised, altogether, $78M in dilutive and dilutive financing in 2021.

Bleu Impact Fund

2021 also marks the inception of the BleuImpact Fund — a $20M fund dedicated to innovative water technologies lead by our Senior Partner Simon Olivier.

Cycle Central

We launched Cycle Central, a non-profit entity to create an Innovation Zone dedicated to clean technologies. Based in Montreal, Cycle Central is an innovation hub and community of entrepreneurs, researchers, investors and industrial partners dedicated to deploying innovative solutions to the major environmental challenges facing humanity.

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Cycle Capital

Cycle Capital

Cycle Capital is an impact investor and a leading private cleantech venture capital investment platform with $ 0.6 billion under management.