Fundraising

Rethink Education to raise $125 mln second fund

Rethink Education has set out to raise a $125 million second fund, according to a filing with the SEC.

Ontario Pension Board helps top up Northleaf Venture Catalyst Fund

Northleaf Venture Catalyst Fund, a venture fund of funds managed by Northleaf Capital Partners, has added the Ontario Pension Board to its investor base. With the new commitment from Ontario Pension Board, as well as increased commitments from BDC Capital and the Ontario government, capital committed to the Northleaf fund now totals $264 million. Since its initial close in January 2014, the fund has made commitments to the latest partnerships of Georgian Partners, Golden Venture Partners, Relay Ventures, Versant Ventures, Version One Ventures and XPV Capital. It has also made direct investments in Canadian startups eSentire, FreshBooks, Silanis, Vision Critical and Wattpad.

Northleaf collects C$264 mln for venture fund of funds

Northleaf Capital Partners has raised $264 million for its venture catalyst fund. Northleaf Venture Catalyst Fund's investors include Ontario Pension Board. NVCF, the first fund of funds to be established under the Canadian government's Venture Capital Action Plan, has made 11 investments so far.

Longwood files for $90 mln; Shoreline seeking $100 mln

Boston-based Longwood Founders Management has set out to raise a $90 million third fund, and Shoreline Venture Management is targeting $100 million for its third fund, according to filings with the Securities and Exchange Commission.

Slow Ventures collects $65 mln for Fund IV

Slow Ventures, a San Francisco-based seed investor, has raised $65 million from 120 investors for its fourth fund, according to a regulatory filing. The firm, an investor in Meerkat, Postmates, Campus Job and other startups, has backed more than 180 companies across its previous three funds.

With opportunity funds, one size doesn’t fit all

They can be the ultimate momentum investment, whether they’re SPVs or something more. They also bear watching.

Fund briefs May 1, 2015

A summary of VC fundraisings and filings; plus tables on recent closings worldwide

Opportunity funds catch fire

Opportunity funds have become a competitive tool for early-stage firms hunting for the next Uber. Expect more of them

BEST Total Return Fund to be wrapped up

BEST Funds announced that the board of directors of the BEST Total Return Fund, a late-stage venture capital fund, has approved a proposal to wind up the fund and suspend any new investment activity. A meeting of the fund's shareholders will be asked to vote on the proposal in the summer of 2015. The initiative follows respective decisions of the Ontario and federal governments to phase out tax incentive programs for labour-sponsored venture capital funds.

Flare Capital unveils $200 mln fund, also appoints CFO

Flare Capital Partners has raised $200 million for its first healthcare tech-focused fund. The fund has already made investments in such companies as Iora Health, Predilytics and Valence Health. It also has invested in Rock Health's most recent seed fund. In addition to the fund, the firm has named Kristen Laguerre as partner and chief financial officer. Previously, Laguerre was a partner and CFO at Atlas Venture and vice president of finance at SoftBank Capital. Also, Flare has appointed Dr. Dan Gebremedhin as a senior associate.