Managers

Kensington Venture Fund closes above target, invests in Vanedge II

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.

Kensington Venture Fund closes above target

Toronto-based venture FoF also invests in Vanedge II

Drive Capital raises $202 mln toward a second venture fund

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.

Former Google CEO Schmidt to head new Pentagon innovation board: Reuters

Eric Schmidt, the former chief executive officer of Google, has agreed to head a new Pentagon advisory board aimed at bringing Silicon Valley innovation and best practices to the U.S. military, Defense Secretary Ash Carter said on Wednesday.

XPND closes second fund at $75 mln, invests in Téo and Lion Bus

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.

Sequoia raising China-focused venture, growth funds

Sequoia Capital is raising new venture and growth funds to invest in China, according to regulatory filings.

The true impact of venture capital

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

NY investor pursues Austin deals

Brand Foundry opens satellite office in Texas capital as it targets $40 million for second fund

IPO Profiles: Four venture-backed biotech companies went public on U.S. exchanges in February

Profiles of AveXis, BeiGene, Editas and Proteostasis

Venture-backed stocks hold steady in February

The venture-backed stock index falls again, but only by 2.89 points and could be rebounding back up