Toronto, Ontario- McRock Capital Corporation, a leading venture capital fund manager focused exclusively on the Industrial Internet of Things (IIoT), announced today that it has reopened McRock iNFund LP to admit Caterpillar Ventures as a strategic investor. Launched in December 2014, the fund now adds Caterpillar to its list of corporate investors which also includes Cisco Systems and Électricité de France (EDF). Other investors include BDC Capital, EDC, Teralys, WSGR, AEC, Kensington and Harbourvest.
“We are pleased to add Caterpillar Ventures as our newest strategic investor, recognizing their strength in the IIoT. The addition of Caterpillar provides us with the opportunity to work with a global industrial manufacturer that has the largest connected industrial fleet in the world,” says Scott MacDonald, Co-Founder and Managing Director of McRock Capital.
"Caterpillar continues to lead in the digital age, and the relationship with McRock will help keep us abreast of new technologies, innovation and startups in the IoT space," added John Carpenter, Caterpillar Solutions and Technology Manager.
About Caterpillar Ventures- Caterpillar Venture Capital Inc. (Caterpillar Ventures) assists entrepreneurs around the world to grow and scale their businesses to build today for a better tomorrow by leveraging Caterpillar's industry expertise, supply base and independent dealer network. Caterpillar Ventures' focus areas of investment include robotics, energy, advanced materials, and digital solutions that help our customers be successful. Caterpillar Ventures is a wholly owned subsidiary of Caterpillar Inc., the world's leading manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. For more information, visit caterpillar.com/ventures.
About McRock Capital – McRock is the first dedicated Industrial Internet of Things (IIoT) venture capital fund focused on the intersection of sensors and software in large industrial markets. The McRock team has a unique background of building high-growth venture-backed IIoT companies while also having worked in the power, water, oil and gas industries. McRock is backed by several leading institutional investors as well as Cisco Systems, Électricité de France (EDF), and Caterpillar.