- Fostering World-class Companies with Connected Growth Capital
Cansbridge Capital was formed in 1999 with presences in Vancouver and Silicon Valley in 2000 to invest in and build world-class technology companies based along the Pacific west coast. In 2007, the partners moved to the Bay Area and added operations in China; they relocated to Asia in 2011 to take advantage of the booming economies there.
The origins of this boutique venture firm was to combine the partners’ own venture capital and technology companies operating backgrounds with their strong connections to Asia. Investments to date include AbeBooks, Inc. (acquired by Amazon in 2008), Alda Pharmaceuticals (TSX Venture Exchange symbol: APH), Intrinsyc Software Inc. (Toronto Stock Exchange symbol: ICS); NCompass Labs (acquired by Microsoft in 2001), Optoplex Corp. (winner of Deloitte’s Silicon Valley Fast 50 in 2008 and Fast500 in 2009, RedHerring 100 in 2009), Telos Technology (acquired by UT Starcom in 2004), and AutoChina International (Nasdaq: AUTC).
The principals of Cansbridge believe strongly in active participations in the day-to-day management of their investees and not limiting to the usual “board seat” positions. They typically become CFO, COO and advisors to CEO’s, akin to the Merchant Bankers of the old world. As such, the firm does not scatter its investments but prefers to make typically one or (maximum) two a year.
Its latest efforts have been concentrated in the SPAC (Special Purpose Acquisition Company) space.
It formed Spring Creek Acquisition in 2007, raised $41.4M in an IPO and merged AutoChina International (Nasdaq: AUTC), China’s largest commercial vehicle leasing and service company in 2009. The entity’s market capitalization has vaulted over USD$500M in less than two years and it is widely regarded as the most successful SPAC ever.