US VC investing in Canadian clean tech

Two US venture capital firms specializing in clean tech have formed a joint venture to establish a $100-million fund in Canada. Based in Toronto, the fund is backed by SAIL Venture Partners, the early-stage venture arm of SAIL Capital Partners, Irvine CA, and Stifel Nicolaus Canada, the Canadian subsidiary of Stifel Financial Corp, St Louis MO. There are more than 130 clean tech companies listed on the TSX Venture Exchange with a market capitalization of more than $18 billion, ranking it as number one globally in terms of listed companies. SAIL's decision to move into Canada was prompted by support and guidance from Sustainable Development Technology Canada and the Ontario government decision to make clean tech a key economic priority. The fund will focus on early-stage companies that have developed products ready for market….