The fund of funds managers for the latest (and possible final) round of the Venture Capital Catalyst Initiative (VCCI) have been named.
HarbourVest Partners, Teralys Capital, Kensington Capital Partners, and Northleaf Capital have been chosen to dole out the $350 million that was committed in the federal Budget 2021. Each of the four firms also managed the previous round of VCCI capital.
The federal backing now means each firm will raise new funds, with the government stating hopes to see a collective investment pool of around $1.4 billion CAD.
According to The Logic, which was the first to report the news, the firms are required to raise three times as much private capital as they received in government financing. The government has not disclosed how much each firm has been allocated, though split four ways each firm theoretically could have received around $87 million.
The post VCCI fund managers chosen for latest, $350 million injection of federal capital first appeared on BetaKit.