Toronto, Ontario, Canada-based Kensington Capital Partners recently held the third closing of its latest fund at $237m.
Launched in November 2014 with $160m in initial investor commitments, Kensington Venture Fund received a lead investment from the Government of Canada’s Venture Capital Action Plan (VCAP), a $400m strategy designed to increase private sector investments in emerging Canadian technology companies.
New commitments came from institutional, family office and individual investors.
The Kensington Venture Fund is a fund of funds investing in promising VC funds and technology companies in the IT, telecommunications, energy, cleantech, and digital media sectors.
The vehicle, which remains open to new accredited and institutional backers until it reaches its maximum size of $300m, began its investment activity in November 2014, and has now completed operations in 7 Canadian based venture capital funds and direct investments in 4 Canadian companies.
Founded in 1996 and led by Managing Director Rick Nathan, Kensington is an independent Canadian investor in alternative assets including private equity, venture capital, infrastructure and hedge funds.