MSBi Capital and Reso Investments announce partnership
Reso Investments invests alongside MSBi in two opportunities
Montreal, le 22 mars 2005 – MSBi Capital ("MSBi"), a provider of seed and early-stage venture capital for the commercialization of innovations in information technology, the physical sciences and life sciences, announced today its recent co-investments with Reso Investments, an investment fund focused on regional development in the southwest of Montreal.
Reso Investments has recently completed investments in two MSBi portfolio companies – CarboPur Technologies and Silk Displays, for a total commitment by Reso of $600,000. CarboPur Technologies focuses on the development of advanced activated carbon materials, while Silk Displays develops low-cost high-performance all plastic flexible liquid crystal displays ("LCDs").
"MSBi welcomes this strategic partnership with Reso Investments", said Mark de Groot, Managing Partner at MSBi Capital. "We are pleased that local partners have recognized MSBi's accomplishments to date as regards early stage investment and technology commercialisation. Reso Investments's participation at both the seed and early stage level provides us with leverage when it comes to attracting later-stage investors in our portfolio companies, both local and foreign."
"We are indeed happy to partner with MSBi on these two initial opportunities", said Moustafa Magar, Reso Investments Managing Director. "The expertise, reputation and international networks that MSBi brings to the table are unprecedented among early stage investors in Montreal and we look forward to investing alongside MSBi in the future deals whenever possible."
CarboPur Technologies, a McGill University spin-off, designs and manufactures innovative high-performance advanced activated carbon materials for filtration applications, such as water and air purification, as well as energy storage applications, such as fuel cells, hydrogen storage and ultra-capacitors. The company has a proprietary production process that significantly decreases costs and increases performance.
Silk Displays, a recent McGill University spin-off, develops liquid crystal displays based on an innovative process that uses plastic laminates with embedded electronic circuits. This results in significantly cheaper production costs, while yielding lighter and more robust displays. Silk Displays is initially targeting high-margin markets such as rugged displays.
Reso Investments's mission is to promote the economic development in the southwest Montreal area by investing in companies that provide long-term benefits to the area through the establishment of sustainable businesses and the creation of employment. "Both CarboPur Technologies and Silk Displays are perfect examples of young and innovative companies that fit our criteria and have great future potential," said Mr. Magar.
MSBi Capital is a seed and early stage venture capital fund dedicated to commercializing innovations in information technology, the life sciences, and the physical sciences. MSBi Capital has a particular focus on establishing and building companies based on technology advancements and inventions originating from the universities of McGill, Sherbrooke and Bishop's, as well as their affiliated hospitals and research institutes. More information about MSBi is available at www.msbi.ca.
Reso Investments inc. (Reso INVEST) is an investment fund dedicated to Montreal's southwest. This venture capital fund was created jointly by the Corporation for the Economic Revitalization of the Southwest (Reso) and by the Fonds de solidarité FTQ (Le Fonds) in 1995. Reso's contribution to the fund's capital is financed by the federal and provincial governments. Reso Investments is an active partner. In addition to financial assistance, it brings to bear all of its strategic development expertise in support of its business associates. Reso Investments's mission is to provide the Southwest with the building blocks it needs to ensure economic growth and create long-term employment.
CarboPur Technologies, a McGill University spin-off, designs and manufactures high-performance advanced activated carbon materials and solutions for filtration applications, such as air and water purification, and energy storage applications, such as fuel cells, ultracapacitors and hydrogen storage. CarboPur's unique manufacturing process makes it possible to transform various woven and nonwoven textile precursors into activated carbon cloths/felts of variable thickness and density, with superior physical and adsorptive properties compared to the best available granular, powder or fabric activated carbon products, and lower production costs. More information about CarboPur is available at www.carbopur.ca.
Silk Displays creates smart plastic materials designed to meet a wide range of critical performance and environmental parameters, materials that retain their critical properties while adapting to manufacturing processes and environmental extremes. To address the US$63 billion (2006) liquid crystal display (LCD) market, Silk Displays is creating all-plastic, flexible, rugged, and lightweight LCD displays at half the cost of the competition. The company's displays have deeper and richer colors, are brighter while using less power, and are drop in compatible with existing LCD units. More information about Silk Displays is available at www.silkdisplays.com.
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Helene Jutras, MSBi Capital
Moustafa Magar, Reso Investissement
514-931-5737 ext. 258
Yves A. Sicard, President, CarboPur
Paul Higgins, President, Silk Displays
2000 McGill College, Suite 510
Montréal (Québec) H3A 3H3
Telephone : 514-982-2251
Fax : 514-982-2264