Montreal-based venture fund manager iNovia Capital today announced today the launch of its second fund, iNovia Investment Fund II L.P, with $107 million in seed capital fund focused on the information technology, life sciences and cleantech sectors.

“We are indeed pleased to have attracted, as investors in iNovia II, a diverse group of institutions and individuals who share our vision and approach,” said Mark de Groot, president & CEO of iNovia Capital.

In preparation for the launch of iNovia II, Shawn Abbott joined the management team as partner in 2007. Abbott is a former general partner with the Alberta-based venture capital fund SpringBank TechVentures.

iNovia II expects to invest in a broad range of companies over the course of the next 4 years. Initial investments tranches should vary between $500,000 and $2 million, and can go as high as $7 million over the life of a given company.