Northleaf Capital Partners Selected as Fund Manager of New Fund of Funds Established Under the Federal Government’s Venture Capital Action Plan
TORONTO (January 21, 2014) – Northleaf Capital Partners (“Northleaf”), Canada’s largest independent global private markets fund manager and advisor, is pleased to announce that it has been selected to manage Northleaf Venture Catalyst Fund (the “Fund”), a newly created fund of funds that will invest in high-potential venture capital fund managers across Canada. Northleaf Venture Catalyst Fund, the first fund of funds to be established through the Venture Capital Action Plan (“VCAP”), will be market-based and returns focused, with the aim of supporting the most promising opportunities in Canada. VCAP’s mission is to provide an investment environment that supports high-potential young businesses, to ensure that they are able to grow into globally competitive firms that drive job-creation, innovation and economic growth.
Northleaf will manage the Fund on behalf of major Canadian institutional investors, including Canada Pension Plan Investment Board, OpenText™ Corporation (NASDAQ: OTEX, TSX: OTC), the lead industry sponsor, BMO Financial Group, Canadian Imperial Bank of Commerce, National Bank of Canada, RBC, Scotiabank and TD Bank Group, as well as the Government of Canada and the Government of Ontario.
Northleaf was selected following a rigorous review process that included an evaluation of several of the world’s leading private equity fund of funds managers. In its role as fund manager, Northleaf will execute on the Fund’s strategy by constructing a focused portfolio of high-potential fund managers with sufficient scale and resources to deliver world-class returns, and by promoting the ongoing adoption of global best practices across the Canadian venture capital industry. As a fully discretionary mandate, Northleaf will make all investment decisions on behalf of the Fund.
“Through a disciplined focus on generating top-tier returns, Northleaf Venture Catalyst Fund will serve as an important catalyst in promoting a vibrant venture capital environment in Canada, rooted in a strong entrepreneurial culture,” said Jeff Pentland, Managing Director of Northleaf. “As patient venture capital investors, we’re confident the Fund can not only produce attractive returns but can also have a significant impact on creating a profitable, globally competitive and self-sustaining venture capital industry over the long term.”
Northleaf also manages the Ontario Venture Capital Fund (“OVCF”), ajoint initiative between the Government of Ontario and leading institutional investors to invest primarily in Ontario-based and Ontario-focused venture capital and growth equity funds that support innovative, high growth companies. OVCF has completed its investment program.
About Northleaf Capital Partners
Northleaf Capital Partners is an independent global private equity and infrastructure manager and advisor, with more than $5 billion in commitments under management on behalf of public, corporate and multi-employer pension plans, university endowments, foundations, financial institutions and family offices.
Northleaf’s 60-person team, located in Toronto, Canada, London, UK, and Menlo Park, USA, is focused exclusively on sourcing, evaluating and managing private markets investments globally. Northleaf currently manages six global private equity funds, a specialist private equity secondary fund, an infrastructure co-investment fund and a series of customized private equity and infrastructure investment mandates tailored to meet the specific needs of institutional investors and family offices.
For more information on Northleaf, please visit www.northleafcapital.com.
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