TYPE OF FUNDING: Fund Raising (VC Firm)
FUND DOMICILE: Canada
VOLUME: USD 50 Million
The fund started in 2018 in Canada across offices in Toronto & Vancouver. It has achieved the first close of CAD 100 Mn through a contribution from four institutional investors and aims at raising additional CAD 50-75mn with a targeted fund size of CAD 150-175 Mn. LPs include BDC Capital, Cadillac Fairview, Royal Bank of Canada, and the BC Tech Fund. The fund aims at Series A & Series B investments in software companies with a focus on thematic investments in AI & ML(2), with industry-specific applications.
* The first fund deployed $112 Million and has TVPI of 1.48X and DPI of 0.17X
* Current investments include Cymax, Diply, Elasticpath, FlipGive, foodee, etc.