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Non-Profit Foundation
FINANCIAL | Investment Firms & Funds
nbif.ca

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Investments

93

Portfolio Exits

6

Funds

4

Partners & Customers

2

About New Brunswick Innovation Foundation

The New Brunswick Innovation Foundation (NBIF) is an independent, not-for-profit corporation that invests in new growth-oriented companies and applied research activities.

New Brunswick Innovation Foundation Headquarter Location

440 Kind Street Ste 602

Fredericton, New Brunswick, E3B 5H8,

Canada

877-554-6668

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Expert Collections containing New Brunswick Innovation Foundation

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Find New Brunswick Innovation Foundation in 1 Expert Collection, including IIOT Landscape.

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IIOT Landscape

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New Brunswick Innovation Foundation Web Traffic

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Latest New Brunswick Innovation Foundation News

Gray Wolf Raises $1.2M

Sep 10, 2021

Matthew Sampson Fredericton cybersecurity startup Gray Wolf Analytics has closed a $500,000 equity funding round, including $200,000 from the New Brunswick Innovation Foundation , and raised another $700,000 of non-dilutive funding from the Atlantic Innovation Fund and Mitacs . Gray Wolf grew out of research by Dhirendra Shukla, the company’s President and Chair of the J. Herbert Smith Centre for Technology Management and Entrepreneurship. The research, focused on monitoring possible criminal activity related to blockchain technology, was also funded by NBIF. Chief Executive Matthew Sampson said in an interview that Gray Wolf now has a minimum viable product and is working on customer validation. A handful of clients in Canada and internationally are testing a production version of the technology. “We're validating with customers, and it's giving them great value,” said Sampson. “We’re beginning to commercialize it and make money. It's going quite well.” Blockchain is the underlying technology behind cryptocurrencies, including Bitcoin and Etherium. It allows for anonymous financial transactions, which raises the spectre of money laundering. But blockchain systems create ledgers that track all transactions. Gray Wolf is aiming to use the behavioral and transactional patterns of users to identify potential cases of money laundering -- a process similar to how conventional banks spot bad actors -- while preserving the anonymity of legitimate users. “We’re not a surveillance company; we’re a safety company,” Sampson said. “We make sure organizations understand the risk that they pose to their economy, their business, to their users and how they can mitigate that.” He said Gray Wolf will sell its technology under a software-as-a-service model, with pricing erring on the side of affordability. So far, the exact price varies depending on the size and resources of the specific client. Gray Wolf will spend the money from the Atlantic Innovation Fund and Mitacs on additional research and development. The AIF is an Atlantic Canada Opportunities Agency program that gives grants to companies commercializing new products, and Mitacs is a non-profit that funds research and training related to “social innovation.” And the $500,000 of equity funding will go towards paying the salaries of employees working on research and development, sales and the commercialization process. Sampson said Gray Wolf has seven employees spread across Canada. Unlike other Atlantic Canadian startup execs, who have said the rise of remote work has made recruitment more challenging by increasing employer demand from outside the region, Sampson said work-from-home culture has been a chance for Gray Wolf to hire from a broader base of applicants. “We try to do our best to reap the benefits of remote work,” he said. “We're also maintaining that sense of community from working in an office. “What's beautiful about the situation we're in with Gray Wolf is that the space we’re in... resonates with a lot of people in terms of [the fact that] we're trying to do good and work with bleeding-edge technologies.”

New Brunswick Innovation Foundation Investments

93 Investments

New Brunswick Innovation Foundation has made 93 investments. Their latest investment was in Gray Wolf Analytics as part of their Grant on September 9, 2021.

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New Brunswick Innovation Foundation Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

9/10/2021

Grant

Gray Wolf Analytics

$0.16M

Yes

1

7/6/2021

Seed VC

3D Planeta

$0.8M

Yes

Concrete Ventures, and Undisclosed Angel Investors

2

6/3/2021

Series A

Anessa

No

Concrete Ventures, East Valley Ventures, GreenSky Capital, and Undisclosed Angel Investors

3

6/3/2021

Series C

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$99M

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10

1/13/2021

Seed VC

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$99M

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10

Date

9/10/2021

7/6/2021

6/3/2021

6/3/2021

1/13/2021

Round

Grant

Seed VC

Series A

Series C

Seed VC

Company

Gray Wolf Analytics

3D Planeta

Anessa

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Amount

$0.16M

$0.8M

$99M

$99M

New?

Yes

Yes

No

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Co-Investors

Concrete Ventures, and Undisclosed Angel Investors

Concrete Ventures, East Valley Ventures, GreenSky Capital, and Undisclosed Angel Investors

Sources

1

2

3

10

10

New Brunswick Innovation Foundation Portfolio Exits

6 Portfolio Exits

New Brunswick Innovation Foundation has 6 portfolio exits. Their latest portfolio exit was EhEye on November 27, 2018.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/27/2018

Acquired

Patriot One Technologies

3

00/00/0000

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10

00/00/0000

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10

00/00/0000

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10

00/00/0000

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10

Date

11/27/2018

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Exit

Acquired

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Companies

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Valuation

Acquirer

Patriot One Technologies

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Sources

3

10

10

10

10

New Brunswick Innovation Foundation Fund History

4 Fund Histories

New Brunswick Innovation Foundation has 4 funds, including Social Innovation Research Fund.

Closing Date

Fund

Fund Type

Status

Amount

Sources

10/29/2019

Social Innovation Research Fund

$0.4M

1

2/4/2016

Innovation Voucher Fund

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$99M

10

Start-Up Investment Fund

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$99M

10

Venture Capital Fund

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$99M

10

Closing Date

10/29/2019

2/4/2016

Fund

Social Innovation Research Fund

Innovation Voucher Fund

Start-Up Investment Fund

Venture Capital Fund

Fund Type

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Status

Amount

$0.4M

$99M

$99M

$99M

Sources

1

10

10

10

New Brunswick Innovation Foundation Partners & Customers

2 Partners and customers

New Brunswick Innovation Foundation has 2 strategic partners and customers. New Brunswick Innovation Foundation recently partnered with Mitacs on November 11, 2020.

Date

Type

Business Partner

Country

News Snippet

Sources

11/16/2020

Partner

Mitacs

Canada

Follow us on Instagram Mitacs and New Brunswick Innovation Foundation partner to accelerate R&D.

This partnership allows both New Brunswick Innovation Foundation and Mitacs to offer more internships that they can both fund independently .

1

6/9/2017

Partner

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10

Date

11/16/2020

6/9/2017

Type

Partner

Partner

Business Partner

Mitacs

Country

Canada

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News Snippet

Follow us on Instagram Mitacs and New Brunswick Innovation Foundation partner to accelerate R&D.

This partnership allows both New Brunswick Innovation Foundation and Mitacs to offer more internships that they can both fund independently .

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Sources

1

10

New Brunswick Innovation Foundation Team

1 Team Member

New Brunswick Innovation Foundation has 1 team member, including current Chief Executive Officer, Jeff White.

Name

Work History

Title

Status

Jeff White

Chief Executive Officer

Current

Name

Jeff White

Work History

Title

Chief Executive Officer

Status

Current

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