Global private markets specialist HarbourVest Partners hold the final close of its venture capital fund of funds at $CAD 375m.
Limited partners in HarbourVest Canada Growth Fund are based in Canada, the United States and Europe, and are primarily institutional, corporate and high net worth private sector investors which represent approximately two-thirds of the fund. As part of the VCAP program, the fund also includes a cornerstone investment by the Government of Canada’s Venture Capital Action Plan (VCAP), through BDC Capital Inc.
The fund focuses on investing primarily in early-stage and mid-stage venture capital funds from both Canadian-based managers and top-tier US-based managers that invest in Canadian companies. It will also consider opportunities for co-investments directly into companies across Canada.
The fund has invested in Toronto-based Intelex alongside JMI Equity. In addition, commitments to local Canadian fund managers include Avrio Ventures, Genesys Ventures, Georgian Partners, Golden Venture Partners, Information Venture Partners, Inovia, and McRock.
The portfolio is also complemented by investments in U.S. and international venture managers such as Battery Ventures, Index Ventures, and Spark Capital.
The firm is led by Senia Rapisarda, Principal in Toronto and Chris Walker, Principal in Boston.