Novacap raises C$840m

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Novacap Investments Inc. has raised C$840 million to date for its NOVACAP TMT V. The Longueuil-headquartered firm had a C$600 million target and began fundraising in 2017.

Its previous fund raised C$375 million in 2014.

Investors that committed to NOVACAP TMT V include public and corporate pension funds, insurance companies, endowments, foundations, family offices, and individual investors across Canada, the United States, Europe and Australia.

The fund will target buyout opportunities in technology and technology-enabled sectors in Canada and the United States.