Northleaf Capital Partners Ltd. held an initial closing of its newly formed fund, Northleaf Venture Catalyst Fund II.
The fund, launched as part of the venture capital catalyst initiative of the Government of Canada, aims to offer investors access to venture capital funds and direct investments in Canadian companies.
The Canadian government invested in the fund through BDC Venture Capital, or BDC Capital, the investment arm of the Business Development Bank of Canada. Local institutional investors that backed Northleaf Capital's prior funds also invested in the fund.
The independent global private markets fund manager will hold additional closings for the fund in 2019.