Founded in 1998, our predecessor company MM Venture Partners ("MMVP") was the first ever debt fund in Canada providing venture debt financing to emerging technology and life sciences companies. This fund, with $250 million in committed capital, was backed by GATX Corporation a large NYSE traded company. With this platform we financed over 40 companies within the Canadian technology and life sciences sectors. In late 2003, MMVP stopped making new investments following a management buyout of the fund.
In the summer of 2004, the management of MMVP formed MMV Financial Inc. with a mandate to provide creative debt financing solutions across North America to early to mid-stage technology and life sciences companies. Set up as a private-equity backed corporation with a large senior debt facility, MMV Financial's capitalization allows for over $100 million of new investments to be made each year as part of a $400 million+ investment program.