Innovacorp has cashed in on its investment in Metamaterials Inc., banking a gain of $101 million and making a return of almost 35 times.
Nova Scotia’s provincial venture capital Crown corporation invested a total of $3.1 million in 2015 and 2017 in Meta, as it’s now known, a Dartmouth-based maker of advanced materials that can alter light. Meta listed on the Canadian Securities Exchange two years ago, and its share price surged in June when it gained a Nasdaq listing in New York. At one point, it had a market capitalization (the total value of all its shares) of US$2.2 billion (C$2.7