Overview
OVCF is structured as a fund of funds with the primary objective of generating attractive returns for its investors. The fund closed in June 2008 with $205 million in capital commitments, of which $90 million came from the Government of Ontario. Northleaf manages the Fund on behalf of the investors, which include the Government of Ontario, TD Bank, RBC, the Business Development Bank of Canada, and Manulife Financial.
OVCF is fully committed and performing well.
Portfolio Guidelines
- The OVCF portfolio will consist principally of Ontario-based and Ontario-focused venture capital and growth-oriented funds and direct co-investments.
- A minimum of 80% of the capital will be committed to Ontario-based and Ontario-focused funds.
- Ontario-focused funds include funds that may be based outside of Ontario but have a demonstrated history of sourcing and evaluating potential investments in Ontario-based companies.
- Up to 20% of the capital may be invested in other North American venture capital funds as a means of generating enhanced returns and fostering the transfer of best practices.
Select Institutional Investors
![Ontario government logo](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/ontario_logo_800.png?itok=EVcKidGz)
![bdc logo](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/bdc_new_logo.png?itok=KU6pQHs3)
![Manulife logo](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/manulife_0.png?itok=QVbTPGZ1)
![royal bank of canada logo](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/rbc.png?itok=_F5fLdyx)
![td logo](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/td_0.png?itok=X0UsSGFa)
Manager
Northleaf was selected to manage OVCF 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.
Northleaf also manages Northleaf Venture Catalyst Fund (NVCF I) and Northleaf Venture Catalyst Fund II (NVCF II). NVCF I which was launched in 2014, is fully committed and performing well. For more information on NVCF I, click here. NVCF II was launched in 2018 and is currently actively investing. For more information on NVCF II click here.
Select Investments
Fund Investments
![Georgian Partners Logo georgian partners logo mid market investing](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/georgian_3.png?itok=P98yczzj)
![Golden Ventures logo golden ventures northleaf capital mid market investing](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/golden.png?itok=nBvSqtub)
![Lumira Ventures logo lumira ventures logo](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/lumira_ventures.png?itok=ZvZDCluF)
![XPV Logo xpv water partners logo](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/xpv.png?itok=pstwb0Zr)
![Relay Ventures logo relay ventures logo mid market](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/relay.png?itok=zgQoyP4Q)
![Celtic House Venture Partners logo celtic house venture partners logo](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/celtic_house.png?itok=jUwc6jUy)
![RHO logo RHO logo](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/rho_0.png?itok=2nixegPO)
Direct Investments
![Bluecat logo OVCF investment bluecat](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/bluecat.png?itok=uB3KkDUh)
![Achievers logo northleaf invests achievers](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/achievers.png?itok=7o1yssxk)
![Shopify logo northleaf invests shopify](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/shopify.png?itok=msCUb0su)
![Newterra logo northleaf investment newterra](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/newterra.png?itok=LtMHQaEP)
![Polar logo Northleaf venture investment polar](https://www.northleafcapital.com/sites/default/files/styles/inline_full_column_lrg_x1/public/assets/library/polar.png?itok=7YjclG7s)
Press
Ontario Venture Capital Fund commits $70 million to three leading venture capital funds
Ontario Venture Capital Fund makes another lead commitment to Blackberry Partners Fund II
OVCF makes first direct co-investment with investment in I Love Rewards
OVCF strengthens Ontario’s venture capital industry with a commitment to Georgian Partners
Innovation in Ontario: TD Capital Selected to Manage New Ontario Venture Capital Fund
205 million investment fund to grow jobs of the future
E-Venture Newsletter
Volume 1
Volume 2
Volume 3
Volume 4
Volume 5
Volume 6
Contact
Questions regarding Ontario Venture Capital Fund 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