CIBC Innovation Banking Provides $1.5 Million in Growth Capital to Vessel

Executive Summary

• CIBC Innovation Banking provided a $1.5 million debt facility to Vessel Funds Inc. to fund its global expansion and product development.
• The financing is growth‑capital debt, aimed at accelerating Vessel’s technology platform for private market funds and limited partners.
• The announcement highlights strategic support from a major Canadian bank, underscoring confidence in Vessel’s business model and market potential.

Key Details

• Debt facility amount: $1.5 million.
• Facility type: Growth‑capital debt (no interest rate or term disclosed).
• Intended use of proceeds: Support global expansion, product innovation, and accelerated product development for Vessel’s fund management platform.
• Provider: CIBC Innovation Banking, a division of the Canadian Imperial Bank of Commerce with over $11 billion in managed funds.
• Vessel’s CEO & Co‑Founder, Thomas Terrats, described the financing as a “significant milestone” enabling broader reach and value creation for General Partners and Limited Partners.
• CIBC Managing Director Eric Laflamme highlighted the partnership’s role in transforming private market fund operations through technology.
• Vessel is backed by investors including Inovia, Afore Capital, BY Venture Partners, FJ Labs, and Golden Ventures.

Notable Quotes

• “We are excited to support Vessel as it continues to innovate in the fund management space,” – Eric Laflamme, Managing Director, CIBC Innovation Banking.
• “This relationship with CIBC Innovation Banking is a significant milestone for Vessel… The growth capital will enable us to accelerate our product development and expand our reach,” – Thomas Terrats, CEO & Co‑Founder, Vessel.