McRock Capital has reached a major milestone with the official close of McRock Fund III at over $87million, marking the largest fund in its history and bringing total assets under management to $218 million. The fund has secured backing from leading industrial corporations, including Autodesk, Caterpillar, Emerson / AspenTech, Bell Ventures, and CIBC Innovation Banking. The level of support in a challenging fundraising environment reflects broad confidence in McRock’s vision for Industrial Software and its leadership in the sector.
Purpose-Built for the Digital Industrial Era
Since co-founders Scott MacDonald and Whitney Rockley launched McRock over a decade ago, the firm has focused on the transformative potential of software in industrial markets. They anticipated trends such as AI-driven factories and autonomous industrial systems well before they became mainstream. Today, AI is not only accelerating the digitization of industrial processes but also redefining the pace at which innovation is occurring globally.
A new frontier, known as Physical AI, is emerging, enabling companies to understand, predict, and act across real-world systems in real time. With billions of sensors, cameras, and intelligent machines already deployed, industrial environments are increasingly measurable, computable, and optimizable. McRock Fund III is designed to capitalize on this opportunity, supporting the next generation of Industrial Software platforms at a critical moment in the market.
Global Reach with a Canadian Base
While McRock is headquartered in Canada, its focus spans Canada, the United States, Europe, and Israel—regions where the firm has cultivated deep relationships and domain expertise. The fund leverages these networks to identify patterns and opportunities that give it unique insight into emerging industrial technologies. Its Canadian roots have enabled the firm to maintain strong ties with domestic institutional partners while scaling globally.
Long-standing Canadian backers, including.
Export Development Canada, BDC, Alberta Enterprise Corporation, Fonds de solidarité FTQ, and Venture Ontario, have played a critical role in enabling McRock to compete on a global stage. The firm sees Canada’s ability to cultivate globally scalable companies as central to both national prosperity and technological sovereignty. McRock Fund III strengthens Canada’s presence in industrial innovation while pursuing opportunities without geographic limits.
A Proven Track Record
McRock’s portfolio demonstrates a history of early and successful investments in Industrial Software. Notable exits include mnubo, acquired by AspenTech in 2019; Decisive Farming, acquired by TELUS in 2019; ThoughtTrace, acquired by Thomson Reuters in 2022; and Poka, acquired by IFS in 2023. These companies have not only achieved commercial success but also set benchmarks for industrial technology adoption before the current wave of investor attention.
Fund III Investments and the Road Ahead
The first two investments from McRock Fund III—Foundation EGI and OneLayer—have already been announced, signaling the start of an exciting new chapter for the firm. Industrial markets are digitizing at unprecedented speed, and AI is moving beyond pilot projects to enterprise-wide deployment. McRock is positioned to support a new generation of founders who are fluent in both the physical and digital dimensions of industrial operations.
McRock Fund III underscores the firm’s commitment to backing Industrial Software innovators worldwide while maintaining deep Canadian roots. With robust investor support, a proven track record of successful exits, and a clear focus on Physical AI and digital industrial transformation, the firm is poised for the next decade of growth. As McRock continues to invest in pioneering companies, it reaffirms its mission to shape the future of the global industrial landscape.