Whitecap Venture Partners raises bulk of $125 mln Fund IV, hires Steve Lau

Whitecap Venture Partners initially closed its fourth early-stage tech fund, securing most of the $125 million target. In all, Whitecap IV raised $110 million in commitments, the Toronto venture capital firm said in a news release. The money came from new and returning limited partners, including Kensington Capital Partners and Bank of Montreal. Whitecap also said it expanded its partnership team to include Steve Lau. Lau was formerly the co-CEO of FieldEdge, a U.S. field service management software provider acquired in 2018 by Advent International. Before then, he was an investment pro with Highland Creek Partners and Canada Pension Plan Investment Board.