McMaster University and Silicon Valley venture capital firm Celesta Capital have launched a new partnership intended to support Canada’s deep tech ecosystem.
The partnership will see Celesta support McMaster-affiliated startups and researchers in commercializing their intellectual property (IP) and connecting the startups with venture capital hubs in Canada, Silicon Valley, and India.
“As a McMaster alumnus, it is a great honor to establish this partnership and build upon the strength of a renowned research institution.”
-Nicholas Brathwaite, Celesta Capital
Deep tech startups build solutions across a wide range of industries, including hardware for medtech, artificial intelligence, and semiconductors. Celesta said that McMaster can tap into its deep tech expertise as a venture capital investor and business builder to help more Canadian companies commercialize.
“This partnership with Celesta Capital allows us to combine our research, talent, and [IP] with their entrepreneurial expertise and vast network of investors to create companies that benefit both the Canadian economy and broader society,” McMaster president David Farrar said in a statement.
Founded in 2013, Celesta says it has made over 100 investments to date and has $1.1 billion in assets under management. Its investments include semiconductor, AI, and robotics companies worldwide, with many of its portfolio companies based in the United States, India, and Israel. Last year, Celesta co-led Montréal-based Stathera’s $20-million CAD Series A round for its fabless semiconductor solution.
The firm’s partnership with McMaster will give startups and researchers access to potential investment opportunities and partnerships with Celesta’s portfolio companies. Celesta will also help organize bi-annual industry summits at McMaster, which will focus on connecting researchers, tech industry leaders, and investors in the energy, cleantech, and life sciences sectors.
Celesta representatives will also serve on the McMaster Entrepreneurship Academy (MEA) Advisory Council to mentor MEA fellows on growing businesses, assist the McMaster Industry Liaison Office in navigating IP procedures, and judge at McMaster’s startup pitch competitions.
The first act of the partnership will be a jointly-judged pitch competition at McMaster in April, followed by an entrepreneurship residency in Silicon Valley for MEA fellows, and a co-hosted advisory summit focused on IP development for McMaster researchers and entrepreneurs.
“As a McMaster alumnus, it is a great honor to establish this partnership and build upon the strength of a renowned research institution,” founding managing partner of Celesta Capital Nicholas Brathwaite said in a statement. “We believe Celesta will add tremendous value to McMaster’s budding entrepreneurs, helping to nurture their innovations into successful companies and supporting them with investment, intellectual capital, network connections, and more.”
Feature image courtesy Celesta.