News

After a couple of years of slower growth, Canada’s venture system is re-energized and poised to resume its expansion.

The capital needed to grow category-leading companies up north is beyond the capacity of LPs in Canada, which could make fundraising by VC managers more difficult.

The fund of funds, which is targeting $750 million, expects to invest 70 percent of its capital in primary funds, including as many as 14 venture funds.

A recent settlement likely means the SEC is already investigating private funds – including VCs that are Registered Investment Advisers – for compliance breaches related to off-channel communications.

Investors include BlackRock, Temasek, Allstate, BBVA, KIRKBI, Mizuho Bank Ltd, MUFG Bank Ltd and TotalEnergies.

Norwest now has $15.5 billion total capital under management.

Venture firms worldwide closed on $15bn in the first quarter. It was their smallest fundraising haul since Q3 of 2017.

Despite a challenging fundraising environment, Crosslink Capital closed on $350 million for its tenth flagship fund, hitting its target.

The venture secondaries firm says it plans to use 'equity investments and structured financings, as well as GP- and LP-facing transactions, to gain exposure to its target companies at attractive risk-adjusted returns.'

To address Europe's 'Series B Death Valley' for climate tech companies, World Fund has set aside €200m of its new €300m fund for follow-on investments in its best-performing companies.