Georgian Partners raises first Canadian venture fund to surpass $1bn CAD


Canadian venture capital firm Georgian Partners has raised $1.1bn CAD ($850m) for its latest fund focused on North American enterprise software companies.

The fundraise represents the first venture capital investment vehicle raised in Canada to be valued at more than $1bn CAD, BetaKit has reported.

The Toronto-based firm pulled in significantly more than the $550m raised for the final close of its fourth flagship fund two years ago.

Georgian Partners Growth Fund V has secured capital commitments from at least 120 investors, according to documents submitted to United States Securities and Exchange Commission this week.

The filing shows that Georgian Partners has not registered to raise any more capital for the vehicle.

Managing partners, Simon Chong, Justin LaFayette and John Berton are listed in the filling for Fund V.

Georgian Partners typically targets software companies utilising artificial intelligence according to its website.

The firm will likely use Fund V to invest between $20m and $50m in companies with more than $500,000 of monthly recurring revenue.

Earlier this month, Georgian Partners co-led a $55m Series D funding round for software tool developer Top Hat, alongside fellow investor Inovia Capital.

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