TORONTO (May 4, 2015) – Northleaf Capital Partners (“Northleaf”), Canada’s largest independent global private markets fund manager, is pleased to announce that Northleaf Venture Catalyst Fund (“NVCF” or the “Fund”) recently held another closing adding Ontario Pension Board (“OPB”) as its newest investor. Total commitments from all investors now amount to $264 million. Having begun its investment program in January 2014, NVCF has made 11 investments to date and has a strong pipeline of additional investment opportunities that are currently under review.
“This latest milestone for the Northleaf Venture Catalyst Fund is more great news for Ontario’s vibrant venture capital ecosystem,” said Reza Moridi, Ontario’s Minister of Research and Innovation. “When we are able to provide innovative companies with access to early-stage capital they can rise to demand and compete on a global basis; creating jobs and prosperity in Ontario.”
“Our Government firmly believes its strong support is required to bolster the availability of risk capital in Canada,” said Finance Minister Joe Oliver. “Our support will help increase private sector investment in innovative, high-growth start-ups across Canada. That is why the third closing by Northleaf Venture Catalyst Fund - the first fund of funds to be established under the Government’s Venture Capital Action Plan - is so important.”
“We are very grateful for the support and confidence that the Ontario Pension Board, our newest partner, has placed in the Fund and the NVCF investment team and program,” said Jeff Pentland, Managing Director of Northleaf Capital Partners, the manager of NVCF. “OPB’s commitment comes with increased commitments from both BDC Capital Inc. on behalf of the Government of Canada, and the Government of Ontario. With the additional capital, NVCF will continue its successful strategy of building a portfolio of best-in-class Canadian venture capital and growth equity funds and high potential companies that contribute to the development of a profitable, globally competitive and self-sustaining venture capital industry in Canada.”
NVCF has built a distinctive and well-diversified portfolio of investments since its launch, having committed to six leading venture capital fund managers (XPV Capital, Georgian Partners, Versant Ventures, Golden Venture Partners, Version One Ventures and Relay Ventures) and completed five direct investments in innovative, high-growth Canadian companies (Wattpad, Vision Critical, Silanis, eSentire and FreshBooks). NVCF’s primary objective is to generate attractive, long-term returns for its investors and by doing so, clearly demonstrate the significant opportunities available through investment in Canadian venture capital and growth equity funds and companies.
About Northleaf Venture Catalyst Fund
Northleaf Venture Catalyst Fund is a joint initiative between major Canadian institutional investors and the governments of Canada and Ontario to invest primarily in Canada-based venture capital and growth equity funds and direct co-investments that support innovative, high-growth companies. NVCF is structured as a fund of funds with the primary objective of generating attractive returns for its investors. The Fund is managed by Northleaf Capital Partners. For more information on Northleaf, visit www.northleafcapital.com.
Northleaf Capital Partners