(November 6 – 15:30 ET) – 360 Capital Corp. is launching an online venture capital marketplace for early stage businesses and a new labour-sponsored investment fund. The 360 Venture Fund filed a preliminary prospectus in Ontario today.

360 Capital seeks to become a value-added partner for new entries in Canada’s hi-tech sector. The firm is led by Gordon McMillan, co-founder and chairman of Triax Capital Holdings Ltd., and is backed by First International Asset Management Inc., whose shareholders include CIBC World Markets, Goldman Sachs and Soros Private Equity Partners.

360 Capital says it will target Canadian technology, internet, telecommunication and biotechnology companies seeking funding from venture capital firms from both Canada and the United States. To create the online venture capital marketplace, the company will identify and screen investment opportunities and plans to secure funding for promising entrepreneurs by submitting pre-screened business plans to its participating network of venture capital firms.

360 Capital’s management team includes Sue Coleman, who returns after a one-year sabbatical abroad to head up the company’s deal-screening and investment team.. Coleman brings 20 years of portfolio management experience focused primarily on the small cap market. Previously she was with Altamira Investment Services Inc.

Coleman is joined by Leon Rudanycz, a successful technology entrepreneur and money manager for the past 16 years. Coleman and Rudanycz will also be lead portfolio managers for the new 360 Venture fund.

Colin Mercier, former head of Merrill Lynch Canada’s Financial Services and Diversified Industries Investment Banking Group, joins 360 Capital as President. Also joining the 360 Capital management team is Triax co-founder Tim Diamond and former senior executives, Mark and Steve Diamond.
-IE Staff