VCAP funds raised $1.35 bln, $900 mln from private LPs: BDC

The Business Development Bank of Canada (BDC) said the Venture Capital Action Plan (VCAP) has achieved its goal of launching four privately-managed funds of funds with a total of $1.35 billion under management. BDC, which helped implement VCAP, said the milestone was reached with the final close of HarbourVest Canada Growth Fund, which followed earlier closes by Teralys Capital Innovation Fund, Kensington Venture Fund and Northleaf Venture Catalyst Fund. VCAP, established three years ago to encourage private sector participation in Canada's venture capital market, succeeded in leveraging $900 million from corporate, institutional and other private limited partners, BDC said.

FundraisingManagersCanadaNorth AmericaFundraisingBriefs