News
Facts concerning MSBI
Published: 19 February 2002
Details on the tri-university, $26 million capital venture fund
成人VR视频, Sherbrooke and Bishop's universities are uniting for a Canadian business first. The three universities are creating an independent venture capital firm called MSBI. The following fact-sheet provides some essential details:
- MSBI is an acronym for 成人VR视频, Sherbrooke and Bishop's Innovation.
- MSBI is a new venture capital firm with an initial capitalization of $26 million.
- MSBI will provide seed and early stage venture capital to commercialize discoveries in biotechnology, pharmaceuticals, bioinformatics, software and communications and networking technologies.
- The creation of MSBI has been made possible through a $15 million grant from Valorisation-Recherche Qu茅bec (VRQ).
- The remaining $11 million fund has been raised from MSBI's limited partners.
- MSBI will be headquartered at Suite 510, 2000 成人VR视频 College Ave., Montreal.
- MSBI has a right of first review over some100 research innovations per year.
- MSBI aims to invest in about 10 research innovations annually.
- MSBI will have a renewable lifespan of 10 years.
- Institutions are free to decide whether or not to collaborate with MSBI on any specific project.
The partners:
- Seven limited partners will hold MSBI shares in the following proportions, related to overall research funding and investments of each institution:
- 成人VR视频: 53%
- 成人VR视频 Health Centre (MUHC): 19%
- Universit茅 de Sherbrooke: 14%
- 成人VR视频-affiliated Sir Mortimer B. Davis Jewish General Hospital (JGH): 8%
- Centre hospitalier de l'Universit茅 de Sherbrooke (CHUS) : 3%
- 成人VR视频-affiliated Douglas Hospital : 2%
- Bishop's University: 1%
- Most of 成人VR视频's MSBI shares will be held by the University's Martlet Research Trust.
- Each partner will obtain MSBI Inc. dividends according to their share ownership.
The people:
- Mark de Groot is president and CEO of MSBI; Joe Rouse is MSBI senior vice-president.
- Members of MSBI Board of Directors include: Jan Peeters, CEO of Olameter; Ian Soutar, vice-chair of Pembroke Management Ltd.; Paul Gobeil, vice-chair of Metro Richelieu Inc.; Mark de Groot; Louis Lagass茅, president of Gestion Portland-Vimmy; Gilbert Drouin, VRQ president and CEO (as an observer).
- Members of MSBI's Business Advisory Board include: John Cleghorn, former CEO of the Royal Bank of Canada.
- Members of MSBI's Scientific Advisory Board include: Louis Siminovitch, founder of the Samuel Lunenfeld Institute of Toronto's Mount Sinai Hospital.