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Covington Funds

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Investments

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This summary is composed by our algorithm based on the analysis of the deals. If you think that some of this information is not accurate, please let us know about it and provide any supporting evidences if possible. Such cases will be analyzed by our ML-algorithm and implemented in our database, which will improve this summary.

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Total investments 8
Average round size
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The average size of a deal this fund participated in
$5M
Portfolio companies 6
Lead investments 1
Follow on index
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How often the fund supports its portfolio startups at next rounds
0.25
Exits 4
Key employees 3
Stages of investment
Early Stage Venture

Areas of investment

  • Software
  • Subscription Service
  • Finance
  • Accounting
  • Billing
Summary

The company was established in North America in Canada. The main department of described VC is located in the Toronto.

The typical case for the fund is to invest in rounds with 2-3 participants. Despite the Covington Funds, startups are often financed by Tera Capital Corporation, P3 Technology Partners, Covington Associates. The meaningful sponsors for the fund in investment in the same round are VentureLink LP, VenGrowth Asset Management, TCV. In the next rounds fund is usually obtained by OMERS Ventures, VenGrowth Asset Management, Sprott Asset Management.

Besides them, we counted 3 critical employees of this fund in our database.

The top amount of exits for fund were in 2019. The common things for fund are deals in the range of 5 - 10 millions dollars. Opposing the other organizations, this Covington Funds works on 4 percentage points more the average amount of lead investments. Considering the real fund results, this VC is 13 percentage points more often commits exit comparing to other organizations. The high activity for fund was in 2012. The fund is constantly included in less than 2 investment rounds annually.

For fund there is a match between the country of its foundation and the country of its the most frequent investments - Canada. Moreover, a startup needs to be at the age of 4-5 years to get the investment from the fund. Among the most popular fund investment industries, there are Health Care, Enterprise. The fund has exact preference in a number of founders of portfolio startups. Among the various public portfolio startups of the fund, we may underline Fusebill, Azelon Pharmaceuticals, Embotics

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Typical Co-investors
Covington Funds is more likely to invest in rounds together with the following funds:
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These funds have a tendency to invest in the following rounds after Covington Funds:

Funds with similar focus

Funds from Canada
Funds with similar focus located in Canada:
Funds with the same geo focus
Funds with similar geography of portfolio companies:
Funds doing lead investments
Funds with similar focus acting as lead investors:

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Notable deals

CompanyIndustryRound SizeDateInvestorsLocation

Fusebill

Accounting
Billing
Finance
Payments
SaaS
Software
Subscription Service
$2M17 Apr 2013 Canada, Ontario, Canada

Embotics

Cloud Computing
Software
Virtualization
$8M12 Jun 2012 Canada, Ontario

Fusebill

Accounting
Billing
Finance
Payments
SaaS
Software
Subscription Service
$1M17 Mar 2012 Canada, Ontario, Canada

Biotechnology
Health Care
Therapeutics
$4M11 Oct 2011 Pennsylvania, United States

Castek

Business Development
Enterprise Software
Insurance
Software
$22M22 Jul 2002 Old Toronto, Ontario, Canada

Bridgewater Systems

Consumer
Enterprise
Mobile
01 Jan 1999 Canada, Ontario

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Total investments 8
Average round size 5M
Peak activity year 2012
Lead investments 1
Follow on index 0.25
Exits 4
Group Appearance index 0.88

Latest deals

CompanyIndustryRound SizeDateInvestorsLocation

Fusebill

Accounting
Billing
Finance
Payments
SaaS
Software
Subscription Service
$2M17 Apr 2013 Canada, Ontario, Canada

Embotics

Cloud Computing
Software
Virtualization
$8M12 Jun 2012 Canada, Ontario

Fusebill

Accounting
Billing
Finance
Payments
SaaS
Software
Subscription Service
$1M17 Mar 2012 Canada, Ontario, Canada

Biotechnology
Health Care
Therapeutics
$4M11 Oct 2011 Pennsylvania, United States

Castek

Business Development
Enterprise Software
Insurance
Software
$22M22 Jul 2002 Old Toronto, Ontario, Canada

Bridgewater Systems

Consumer
Enterprise
Mobile
01 Jan 1999 Canada, Ontario
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