Private Equity
Kensington Capital Partners said Thursday it closed a fund of funds at C$306 million ($227.9 million). The target of the Kensington Venture Fund, which will invest in Canadian-based VC funds and technology companies, was C$300 million. Investors include BMO Financial Group, CIBC, OpenText Corp, Richardson GMP, Royal Bank of Canada, Scotiabank, TD Bank Group, Torstar Corp, and the Government of Canada.CIBC, OpenText Corp, Richardson GMP, Royal Bank of Canada, Scotiabank, TD Bank Group, Torstar Corp, and the Government of Canada.
4 min read · 03 March 2016
Toronto-based investment firm Kensington Capital Partners has exceeded the target it set for Kensington Venture Fund (KVF) in the fund of funds’ final close. KVF, the second fund closed in partnership with Ottawa’s Venture Capital Action Plan, raised $306 million, with most recent commitments coming from a mix of family offices, individual investors, private foundations and wealth managers.
3 min read · 03 March 2016
Toronto-based venture FoF also invests in Vanedge II
4 min read · 03 March 2016
Drive Capital, the Ohio-based firm founded by Sequoia Capital veterans Mark Kvamme and Chris Olsen, has raised $202 million toward a second venture fund, according to a filing with the SEC.
1 min read · 02 March 2016
Montréal-based private equity firm XPND Capital has closed its second fund, XPNDCroissance Fund, at $75 million in committed capital. Fund II, which initially closed last year with the backing of the Caisse de dépôt et placement du Québec and Investissement Québec (IQ), secured further commitments from Fonds de solidarité FTQ and Fondaction CSN, and increased support from IQ. XPNDCroissance Fund plans to invest in Québec companies active in multiple sectors, including sustainable transportation, innovative industries, and technology, media and entertainment. It has already invested in Téo Taxi, an electric taxi service, and Lion Bus, a maker of electric school buses.
5 min read · 02 March 2016
Sequoia Capital is raising new venture and growth funds to invest in China, according to regulatory filings.
1 min read · 01 March 2016
Looking beyond financial returns, a recent study finds that VC-backed companies that have gone public since '74 account for 85 percent of all R&D spending
3 min read · 01 March 2016
Brand Foundry opens satellite office in Texas capital as it targets $40 million for second fund
3 min read · 01 March 2016
Fifty B.C.-based CEOs and investment professionals have sent a letter to Prime Minister Justin Trudeau urging the creation of a first ever Canadian clean-tech strategy. The letter said Ottawa has "a unique opportunity" to turn Canada into a global clean-tech leader by adopting several key initiatives. They include a $500 million fund that would back up to 20 clean-tech venture capital funds, and help leverage up to $3 billion in total capital. Other proposals include a $1 billion clean-tech loan guarantee program available to early-stage projects; and a federal tax system review to ensure clean-tech companies have access to the same benefits as resource companies.
8 min read · 29 February 2016
Eight Partners, founded by Joe Lonsdale, has set out to raise a $420 million inaugural fund, according to a filing with the SEC.
1 min read · 29 February 2016
