Northleaf first VCAP fund to reach max fund size at $300M

Northleaf first VCAP fund to reach max fund size at $300M
July 23
14:57 2015

Northleaf Capital Partners, Canada’s largest independent global private markets fund manager, has announced that Northleaf Venture Catalyst Fund (NVCF) has held a final closing of $300 million.

With this amount NVCF, a fund launched in 2014 as part of the Canadian Government’s Venture Capital Action Plan (VCAP), has achieved its maximum fund size.

“Northleaf Venture Catalyst Fund is the first fund under the Federal Government’s Venture Capital Action Plan to reach its maximum fund size – and we are delighted with this milestone,” said Finance Minister Joe Oliver. “The additional capital will help ensure the country’s venture capital ecosystem is stronger, while encouraging a more innovative economy.”

The fund’s final closing included new commitments from Sun Life Financial and a number of high net worth and family office investors, as well as additional commitments from existing NVCF investors.

“We are thankful for the support we have received for NVCF from both new and existing investors,” said Jeff Pentland, Managing Director of Northleaf Capital Partners, the manager of NVCF. “NVCF is designed to construct a portfolio of best-in-class Canadian venture capital and growth equity funds and high potential companies – an investment strategy and approach that will continue to contribute to the development of a profitable, globally competitive and self-sustaining venture capital industry in Canada. We are working to build out the remaining portfolio and are excited by the promising pipeline of near-term investment opportunities.”

Since its launch in January 2014, the fund has already committed approximately 50% of the Fund’s capital to six leading venture capital fund managers (XPV Capital, Georgian Partners, Versant Ventures, Golden Venture Partners, Version One Ventures and Relay Ventures) and to several direct investments in innovative, high-growth Canadian companies, including Wattpad, Vision Critical, Silanis, eSentire and FreshBooks.

Press release.

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