Northleaf Capital Partners has held the final close of its latest private equity fund, pulling in $675 million USD.
The total surpasses Northleaf’s original target of $600 million USD, according to the firm.
Northleaf’s total capital commitments raised to date exceed $22 billion USD.
Northleaf Private Equity Investors VIII (NPE VIII), as it’s called, marks just the latest fund the firm has raised after it recently closed $1.3 billion USD for its latest secondaries fund. That fund also exceeded its target, according to Northleaf.
Northleaf did not disclose its investors for either fund.
NPE VIII invests in mid-market companies through a combination of primary, secondary, and direct investments. The firm noted that across both funds, Northleaf has grown its secondaries capital by $2 billion USD over the past two years.
Northleaf stated that its private equity program currently serves more than 130 institutional and family office investors across North America, the United Kingdom, and the Europe, the Middle East and Africa region.
Across its private equity, private credit, and infrastructure funds, Northleaf’s total capital commitments raised to date exceed $22 billion USD.
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Northleaf is also in the process of raising its latest venture capital fund of funds with federal backing through the Venture Capital Catalyst Initiative (VCCI). Northleaf was again chosen by the federal government last year to be one of the custodians of VCCI capital, alongside HarbourVest Partners, Teralys Capital, and Kensington Capital Partners. Each firm also managed the previous round of VCCI capital.
The latest fund marks Northleaf’s third federal government-backed venture fund, having also received capital from the Venture Capital Action Plan (VCAP) program for its first Northleaf Venture Catalyst Fund in 2014.
For its second Catalyst fund in 2017, Northleaf raised $300 million CAD, of which $85.7 million CAD came from the Government of Canada.
The government has not disclosed how much each VCCI-backed firm has been allocated out of the latest pot of $350 million.
Northleaf has not shared details about the fundraising for its latest fund of funds.
Through its last fund of funds, Northleaf invested in the likes of Inovia Capital, StandUp Ventures, Georgian Partners, Garage Capital, Information Venture Partners, Golden Ventures, and Version One Ventures.
Through its various funds, Northleaf has also made direct investments in tech companies like Verafin, Ecobee, FreshBooks, and Shopify.
Feature image courtesy Unsplash. Photo by Justin Cron.
