ARK's Cathie Wood joins board of Canadian tech firm mimik
ARK Invest’s Cathie Wood is joining the board of Canadian technology company mimik.
Vancouver-based mimik is an edge computing company that effectively turns devices like phones into private cloud servers. It has already teamed up with Amazon Web Services and IBM on edge computing - two of the bigger players in the space.
The AWS partnership gives software developers access to mimik’s cloud platform. Together, edge devices including smart phones, tablets, and Internet of Things (IoT) products can act as extensions of the AWS cloud. With the IBM partnership, mimik’s technology will be included in automation and digital transformation across manufacturing, retail, IoT and healthcare.
All of mimik’s business lines fit in with Wood’s broad ‘next generation internet’ thesis, one of her big five investment themes. The company itself is private and Wood is not an investor.
However, as Citywire noted in January, Wood has hinted in interviews that ARK is exploring the launch of a private markets strategy.
Wood joins a relatively high profile board at mimik. Other members include Allen Salmasi, a pioneer in mobile technology who was previously with Qualcomm, and Ori Sasson, managing director of Primera Capital, who was an investor in VMWare and other technology companies.
‘I’ve always believed in backing founders who are at the forefront of innovation,’ Wood said in a statement on her decision to join mimik. ‘At mimik, [they] have built a foundation for the next generation of cloud computing.’