Conexus Venture Capital (CVC) has successfully closed its second investment fund, surpassing its initial target and securing a total of $30 million to propel Saskatchewan's technology sector. The oversubscribed fund, announced on December 4, 2025, signals robust investor confidence in the province's high-growth potential.
A Major Milestone for Provincial Innovation
The achievement marks a significant vote of confidence for the local tech community. CVC Fund #2 launched in May 2024 with a foundational $15 million investment from Conexus Credit Union. The rapid progression to an oversubscribed $30 million fund highlights the growing appetite among both new and repeat investors to back ambitious Saskatchewan-based builders.
Jordan McFarlen, Managing Director of Conexus Venture Capital, stated that hitting this target is a milestone for the tech community and a testament to the founders working across the prairies. The capital will enable CVC to provide high-growth companies with the essential resources, networks, and hands-on support required to scale effectively.
Capital Ready for Deployment
The fund is already actively investing in the local ecosystem. To date, CVC Fund #2 has deployed capital into three promising Saskatchewan startups:
- Alto
- Offstreet
- LiORA by EMS Inc.
With the full $30 million now secured, Conexus Venture Capital is poised to back more high-growth companies in the coming months, directly injecting capital into the provincial economy.
Strengthening a Flourishing Tech Ecosystem
This development arrives at a crucial time for Saskatchewan's venture capital landscape, which has experienced notable fluctuations in recent years. The fund's oversubscription demonstrates strong, sustained investor interest against a backdrop of national market corrections.
Conexus Credit Union CEO, Celina Philpot, emphasized the organization's role as a key economic driver, noting its support for over 148,000 members, the incubation of 196 startups at Cultivator powered by Conexus, and now the successful CVC Fund #2. The fund is strategically positioned to leverage a fertile provincial ecosystem that includes high-performance incubators, top-tier talent from local higher education institutions, and the Saskatchewan Technology Startup Incentive—a 45% tax credit for eligible investors.
For portfolio companies like Offstreet, the partnership offers more than just capital. It provides a vital local ally to help accelerate global scaling efforts and ensures that wealth generated within the province is reinvested to fuel its continued technological advancement.
