Framework Venture Partners launches $150 mln debut fund

Framework Venture Partners, a new Canadian venture capital firm, has launched with the first close of its debut fund. Targeted to raise $150 million, FVP I secured undisclosed commitments from BDC Capital, Ontario Teachers' Pension Plan's Cadillac Fairview, RBC and BC Tech Fund, managed by Kensington Capital Partners. The Globe and Mail reports the fund raised an initial $100 million. FVP I will focus on late-stage financings of Canadian business-to-business SaaS companies applying machine learning techniques to industry-specific data sets or reimagining the consumption and delivery of financial services. Based in Toronto and Vancouver, Framework is led by Founding Partners Peter Misek and Andrew Lugsdin, formerly members of BDC IT Venture Fund.