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TORONTO, July 13, 2015 – Gibraltar Ventures Fund One Limited Partnership (“Gibraltar”) announced today that it closed an investment in Globalive XMG Inc., (“GXMG”), a developer of software related augmented reality applications for select enterprise and consumer-facing verticals. Along with Globalive Communications, Gibraltar was a co-lead investor in GXMG $2.2 million seed financing round.
“We are delighted to deepen our relationship with Tony Lacavera and Ray Sharma and their extremely talented development team,” cited Cam di Prata, Managing Partner of Gibraltar and a director of GXMG. “GXMG is uniquely positioned to capitalize on the explosive growth in mobile driven augmented reality, and to offer new, valuable software solutions powered by this disruptive technology.” “Gibraltar’s deep network and its focus on revenue acceleration and business development is a major differentiation point for us when considering our investor base, and we look forward to working together with Cam and his team as we expand into exciting new AR verticals” noted Anthony Lacavera, Co-founder of GXMG.
GXMG is a joint venture between Globalive and XMG Studios. The venture develops cutting edge augmented reality solutions targeted at consumer and commercial markets.
Gibraltar’s vision is to proactively contribute to the emergence of the next cohort of great Canadian technology companies. Our business purpose is to make early to mid-stage portfolio companies stronger and more competitive by accelerating their speed-to-market. We provide portfolio companies with strategic and business development expertise, access to our network of senior corporate decision-makers, and expansion capital.