Conexus Venture Capital fund hits $30 million investment goal
Oversubscribed fund well positioned to back Saskatchewan’s most ambitious builders
Regina, Dec. 04, 2025 (GLOBE NEWSWIRE) -- A venture capital fund hyper focused on backing Saskatchewan’s top high-growth tech companies has hit its $30 million investment goal.
Conexus Venture Capital (CVC) Fund #2 is now oversubscribed, meaning more capital will soon be deployed in Saskatchewan’s tech startups and the provincial economy. Conexus Venture Capital’s successful fundraising shows the appetite and conviction in Saskatchewan’s flourishing technology sector as new and repeat investors have come into the fund.
Conexus Venture Capital looks forward to backing more high-growth companies in the coming months. CVC Fund #2 has already been active in supporting Saskatchewan tech founders by investing in three startups: Alto, Offstreet and LiORA by EMS Inc.
Conexus Credit Union and Conexus Venture Capital announced the launch of CVC Fund #2 in May 2024, with Conexus investing the initial $15 million.
Saskatchewan tech now poised to level up with more capital
This news comes at an opportune time for the Saskatchewan tech ecosystem. The Saskatchewan venture capital market has seen dramatic swings, from historic lows before 2019 to record-breaking highs in 2021, followed by a national correction. Against this backdrop, CVC Fund #2’s oversubscription signifies strong investor appetite for funding the province’s foremost startups.
Conexus Venture Capital will deploy this capital into a fertile ecosystem ripe for accelerated growth that includes:
- High-performance incubators like Cultivator powered by Conexus and Co.Labs
- Top-tier talent from Saskatchewan higher education institutions
- The Government of Saskatchewan’s Saskatchewan Technology Startup Incentive, which offers a 45 per cent tax credit to Saskatchewan-based investors supporting eligible startup businesses
Quotes
“Hitting our $30 million target for CVC Fund 2 is a milestone for Saskatchewan’s tech community and a vote of confidence in the founders building here and across the prairies. We’re grateful to our limited partners and partners across the ecosystem for backing our mission. This capital lets us double down on supporting high‑growth companies with the resources, networks and hands‑on support they need to scale.”
Jordan McFarlen, Managing Director of Conexus Venture Capital
“We see our credit union as a major driver of economic activity in our province through our many offerings including personal and business banking for over 148,000 members, 196 startups incubated at Cultivator powered by Conexus creating over 600 jobs, and now the oversubscribed CVC Fund #2. Conexus invested the first $15 million in this fund as a testament to our belief in Saskatchewan's entrepreneurs and tech startups.”
Celina Philpot, CEO of Conexus Credit Union
“CVC’s new fund is a huge win for Saskatchewan tech. Partnering with CVC gives us a local partner to help us accelerate Offstreet’s global scale. I’m personally excited to see the wealth created here reinvested back into Saskatchewan's tech ecosystem."
Matt Fahlman, CEO and Co-Founder of Offstreet
About Conexus Venture Capital
Conexus Venture Capital (CVC) is an early-stage venture capital fund manager based in Saskatchewan. With a strong focus on backing the most ambitious builders in the Canadian prairies, the team currently manages $60 million in assets across two funds (CVC Fund #1 and CVC Fund #2). As an active investor, CVC often leads rounds, sets terms, syndicates deals and works closely with founders to accelerate growth. Learn more here.
About Conexus Credit Union
We’re a forward-thinking, Saskatchewan-based credit union committed to our members and their financial well-being. We’re a member-owned cooperative with more than 80 years of serving members and giving back to our community. Conexus’ purpose is to champion every member’s success for a thriving Saskatchewan.
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Michael Chmielewski Conexus Credit Union 306-751-8201 media@conexus.ca
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