Canada’s Northleaf Venture Catalyst Fund inks first VC commitments


Canada’s government backed Northleaf Venture Catalyst Fund (NVCF) has made its first two fund commitments totalling $60m to Canadian VC funds XPV Water Fund II and Georgian Partners Growth Fund II.

XPV Capital Corporation is a Toronto-based investment firm focused on the global water industry.

Georgian Partners is a Toronto-based growth equity firm targeting enterprise software, internet and information companies targeting applied analytics, cloud-based business, big data and information rights. The firm recently closed its latest fund on $100m.

“We are pleased to have made a lead commitment to two of Canada’s most promising venture capital funds,” said Melissa McJannet, managing director of Northleaf Capital Partners, the manager of NVCF. “The investments in XPV and Georgian are the first in what will be a series of commitments from NVCF to Canadian venture capital funds and portfolio companies. These commitments reflect NVCF’s long-term strategy – the construction of a portfolio of best-in-class funds and portfolio companies with sufficient scale and resources to execute their plans and deliver world class returns.”

Through investments in promising Canadian funds, NVCF seeks to strengthen the ability of the country’s venture capital sector. NVCF’s primary objective is to generate attractive, long-term returns for its investors. “By demonstrating the significant opportunities available to investors in Canadian venture capital and growth equity funds and companies, NVCF will contribute to the development of a profitable, globally competitive and self-sustaining venture capital industry in Canada,” it said.

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. NVCF is structured as a fund of funds and is managed by Canadian private equity firm Northleaf Capital Partners.

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