News

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.

Ontario government commits $25 mln to Scale Up Ventures Fund

The Ontario government has made a $25 million commitment to Scale Up Ventures Fund, a new venture capital fund that will provide startups in the province with a combination of early-stage capital, mentorship and market access. The fund will raise an additional $25 million from private investors. Led by Chair Nadir Mohamed, former CEO of Rogers Communications, the fund's activity will be supported by a leadership council of more than 30 Canadian business executives, including investment professionals Scott Bonham, founding partner of GGV Capital, Sam Duboc, CEO of Edgestone Capital Partners, and John Ruffolo, CEO of OMERS Ventures. The fund is expected to begin operations this summer.

Whitecap Venture Partners Fund III seeks $80 mln to $100 mln

Whitecap Venture Partners said Monday that its third fund raised $70 million in a first close. Whitecap III is seeking $80 million to $100 million, the VC firm said. LPs in the new fund include Kensington Venture Fund, Bank of Montreal (BMO), and several high net-worth families. Whitecap III will invest in Information and Communications Technology, Med Tech and Food Tech sectors.

Whitecap opens up to outside LPs, raises initial $70 mln for Fund III

Whitecap Venture Partners, one of Canada’s oldest family-owned venture firms, has exceeded the initial target set for its third technology fund after opening the door to third-party investors for the first time. Whitecap III LP secured $70 million in committed capital in its first close, putting the fund within reach of a final goal of between $80 million and $100 million.

Venture fundraising keeps strong pace in Q1

U.S.-based firms raised more than $7.3 billion during the quarter, which is not far off of the record pace last year

Deloitte opens innovation lab d { } at Waterloo's Communitech

Canadian professional services company Deloitte announced the opening of an innovation lab facility called d { }. The facility, which will be located at Waterloo, Ontario-based innovation hub Communitech, will provide industry insights, technical solutions, partnership opportunities and access to networks to technology startups. Communitech said the facility's location will also give Deloitte a window into the latest technologies.

IVP closes its largest ever fund at $1.4 bln

Institutional Venture Partners closed a $1.4 billion fifteenth fund, its largest ever, saying the opportunities in tech investing deserve putting extra capital to work.

Dashboard: Fundraising down in March

Deals, M&A and IPOs all take steps forward in the month

Presidio Partners restructures CMEA funds

Presidio Partners, the former CMEA Capital, said Tuesday that it restructured CMEA legacy funds IV, V and VI, with additional follow-on capital. The firm renamed the pool Presidio Partners 2014, a $142 million fund that manages 17 companies. CMEA VII fund has also been renamed Presidio Partners 2007, a $400 million fund with 19 companies. Presidio also said it promoted Peter Gajdos to the role of Managing Director and appointed Lee Pantuso to CFO.

Knightsbridge Advisers raises $253 mln

Knightsbridge Advisers has raised $203 million for its eighth oversubscribed venture capital and growth equity fund of funds. Its hard cap and target were $200 million. Additionally, the firm secured a $50 million separate account with an undisclosed investor.