CVCA becomes a founding sponsor of a groundbreaking directory of Canadian cloud services suppliers; agreement helps both Canadian investors and tech entrepreneurs to accelerate time to success.
October 16, 2012, TORONTO — Canadian IT research firm IT Market Dynamics and Canada’s Venture Capital & Private Equity Association (CVCA) have announced a new partnership designed to expand connections between Canadian cloud computing entrepreneurs and Canada’s private equity community.
The two organizations — supported by trade publisher IT in Canada — are collaborating on the launch of cloudfingr, a web-based directory of Canadian leaders in the high-growth cloud computing arena. ITMD will provide detailed profiles of Canadian SaaS, IaaS/PaaS, cloud tools/infrastructure, and cloud services suppliers for the new site. CVCA and ITMD will collaborate to create and deliver synopses of these profiles to CVCA’s 1900 members, and will also partner to deliver rich white paper content to investment firms looking to better understand the intricacies of the cloud computing opportunity.
“We are delighted to work with CVCA,” said Michael O’Neil, CEO of IT Market Dynamics. “ITMD and our media operation, IT in Canada, have been successful in building the highest-quality reference information in the Canadian IT industry. Now, by partnering with CVCA, we have an opportunity to help accelerate the success of the Canadian IT community by bringing market insight to the firms that provide critical funding to cloud entrepreneurs.”
The cloudfingr initiative is a unique research project designed to help Canadian businesspeople to identify north-of-the-border cloud suppliers, and to understand where and how they contribute to business success. At the core of cloudfingr is a database of detailed profiles featuring Canadian suppliers of on-demand business software, IT infrastructure, and/or the tools and services needed to take advantage of the agility and cost efficiency delivered by the cloud.
“Cloud computing is a unique and important area,” said Richard Remillard, executive director of CVCA. “Cloud computing makes it possible for Canadian firms to scale to a global audience — and its cost efficiency reduces start-up capital requirements, which allows our members to allocate scarce funds to a larger number of portfolio companies. With ITC representing 40%-55% of all private equity investment in Canada, cloud computing is a critical area for our membership — and our collaboration with ITMD on cloudfingr enables us to deliver the information these members need to explore opportunities in the market.”
Additional resources and future activities
In addition to the cloudfingr profile information, CVCA and ITMD will partner to bring ITMD white papers on cloud computing to CVCA’s membership, starting with “What is ‘cloud’? And why does it matter?” which is co-delivered by CVCA and ITMD, and available immediately to CVCA members and site visitors. CVCA will also be recognized as a sponsor of the cloudfingr website. And CVCA and ITMD have agreed to explore other ways to collaborate — by distributing CVCA perspectives on private equity via the IT in Canada subsidiary,CanadaIT.com, and by hosting events linking entrepreneurs, investors, and IT management — that take advantage of the partners’ unique combination of reach and depth.
“We are pleased to have the opportunity to work with CVCA,” said John Jones, COO and publisher of IT in Canada. “We believe that the combination CVCA’s deep understanding of, and connections within, the private equity community, together with IT in Canada‘s editorial excellence and reach across the public and private sectors, will help all of our stakeholders to better understand, and capitalize on, opportunities for IT-dependent business success.”
For more information:
Contact: Michael O’Neil, CEO, IT Market Dynamics, and
Co-Founder and Chief Content Officer, IT in Canada.ca
Contact: Lauren Linton, Director of Marketing
CVCA – Canada’s Venture Capital & Private Equity Association