Managers

Activant Capital targets $150 mln for sophomore fund

Activant Capital has raised $63.5 million for its second fund, according to an SEC filing. The target is $150 million. Based in Greenwich, Connecticut, Activant invests in tech and software companies.

Blumberg raises more than $200 mln for fourth fund

San Francisco-based Blumberg Capital, an investor in unicorn companies Nutanix and Hootsuite, raised $206.6 million in commitments for its fourth fund, according to a regulatory filing. The fund is 33 percent larger than Fund III, a 2012 vintage year fund that closed on $150 million, according to Thomson Reuters.

On the Bleeding Edge: A roundup of chess moves and other impressions at the NVCA Leadership Gala

Canada's banks, insurers set up small business fund: Reuters

Canada's major banks and insurers said on Thursday they planned to create a fund to invest up to $1 billion in small Canadian businesses over the next decade to bolster growth, Reuters reported. The fund is expected to have an initial capital commitment of more than $500 million. Initial participants will include the country's six major banks, as well as insurance companies, although a range of financial institutions, including pension funds, will be able to invest in the fund when it is formed. Victor Dodig, chief executive of Canadian Imperial Bank of Commerce, who was one of the earliest supporters of the initiative and played a prominent role in setting up the fund, said it could expand beyond $1 billion.

Worldwide venture fundraising market off to a busy start in 2017

Aviation startups' flights of fancy now heading for the skies

Rethink Impact collects over $110 mln for venture fund

Rethink Impact has raised over $110 million for its latest venture fund. The investors included many UBS clients, such as high-net worth individuals, family offices, private foundations and universities. Rethink Impact invests in "social impact companies with a gender lens."

Banks, insurers unveil $1 bln Canadian Business Growth Fund

A group of Canadian banks and insurance companies have launched the Canadian Business Growth Fund, intended to make long-term minority investments in small and medium-sized companies looking to grow or scale operations. The fund is expected to raise more than $500 million initially, with the possibility for future commitments of up to $1 billion. Initial participants include BMO, CIBC, RBC, Scotiabank, TD, Manulife, Sun Life, Great-West Life, National Bank, HSBC Canada, ATB Financial, Laurentian Bank and Canadian Western Bank. Operating as an independently managed entity, the fund will also offer portfolio companies mentorship and access to talent pools.

Data report: M&A deal value falls in February

Seeding Canada's VC innovation ecosystem

McRock Capital believes access to funding through the Venture Capital Action Plan (VCAP) played a major role in its recent success as a Canadian venture capital firm. In light of this, the firm decided to conduct an in-depth analysis of VCAP's broader impact. Using its “Canadian Venture Capital Innovation Tree”, McRock shows how VCAP influenced the Canadian VC industry as a whole and how all of its beneficiaries interact together as one functional ecosystem. McRock believes this is a key measure of VCAP's benefits to Canada's innovation system and economy, which far outweigh the program's costs.