About Northleaf Venture Catalyst Fund I


Overview:

Northleaf Venture Catalyst Fund I (NVCF I) is a joint initiative between major Canadian institutional investors, high net worth and family office investors, and the Governments of Canada and Ontario to invest in Canada-based venture capital and growth equity funds and direct co-investments that support innovative, high growth companies.

NVCF I is structured as a fund of funds and direct investment mandate with the primary objective of generating attractive returns for its investors. The Fund reached its hard cap of C$300 million in capital commitments, of which C$50 million came from each of the Governments of Canada and Ontario. Northleaf manages the Fund on behalf of the investors, which include Canada Pension Plan Investment Board, OpenText™ Corporation, Ontario Pension Board, BMO Financial Group, Canadian Imperial Bank of Commerce, National Bank of Canada, RBC, Scotiabank, TD Bank Group, Manulife Financial, Sun Life Financial, a number of high net worth and family office investors, and the Government of Canada and the Government of Ontario.  

NVCF I was the first fund of funds to be established through the Government of Canada's Venture Capital Action Plan (VCAP). 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.

Portfolio Guidelines:

Through a disciplined focus on generating attractive returns for its investors and fostering the development of best-in-class fund managers, NVCF I serves as an important catalyst in ongoing efforts to create a profitable, globally competitive and self-sustaining Canadian venture capital industry:

  • The NVCF I portfolio will consist principally of Canada-based venture capital and growth-oriented funds and direct investments
  • A minimum of 80% of fund investments will be invested in Canadian funds, with an allocation of up to 20% in non-Canadian funds
  • Up to 20% of capital may be invested in direct investments, with a minimum of 50% of direct investment capital allocated to Canada-based companies
  • Up to 10% of capital may be invested in secondary transactions

Select Institutional Investors:

 

Manager:

Northleaf was selected to manage NVCF I following a rigorous review process that included an evaluation of several of the world’s leading private equity fund of funds managers. As a fully discretionary mandate, Northleaf makes all investment decisions on behalf of the Fund.  

NVCF I represents the continuation of Northleaf’s leadership role in the Canadian venture capital industry. Northleaf also manages the Ontario Venture Capital Fund (OVCF) and Northleaf Venture Catalyst Fund II (NVCF II). OVCF which was launched in 2008, is fully committed and performing well. For more information on OVCF, please visit www.ovcf.com. NVCF II was launched in 2018 and is currently actively investing. For more information on NVCF II click here.

 

Select Investments:

Fund Investments

Direct Investments

Press:

Northleaf Venture Catalyst Fund successfully completes $300 million investment program

Northleaf Venture Catalyst Fund commits $30 million to to leading venture capital funds

Northleaf Venture Catalyst Fund reaches $300 million hard cap

Northleaf Venture Catalyst Fund successfully completes another close, increasing aggregate commitments to $264 million

Northleaf Venture Catalyst Fund successfully completes a second close, bringing commitments to date to $233.5 million

Northleaf Venture Catalyst Fund makes lead commitment to best-in-class seed and early-stage fund manager Golden Venture Partners

Northleaf Venture Catalyst Fund commits $10 million to leading Canadian seed and early-stage fund manager Version One Ventures

Northleaf Venture Catalyst Fund commits $10 million, supporting continued Canadian expansion of Versant Ventures

Northleaf Venture Catalyst Fund commits $60 million to two leading Canadian venture capital funds

Northleaf Capital Partners Selected as Fund Manager of New Fund of Funds Established Under the Federal Government’s Venture Capital Action Plan

 

Contact:

Questions regarding Northleaf Venture Catalyst Fund I may be directed to the Fund Manager, Northleaf Capital Partners:

79 Wellington Street West, 6th Floor, Box 120
Toronto, Ontario M5K 1N9  Canada
t: 1.866.964.4141
f: 416.304.0195

investors@northleafcapital.com