Northleaf Capital, which calls itself “Canada’s largest independent global private markets fund manager and advisor,” announced today that it has added Ontario Pension Board (OPB) as its newest investor. This brings the total commitments from all investors to a respectable $264 million.
Reza Moridi, Ontario’s Minister of Research and Innovation, said, “This latest milestone for the Northleaf Venture Catalyst Fund is more great news for Ontario’s vibrant venture capital ecosystem. When we are able to provide innovative companies with access to early-stage capital they can rise to demand and compete on a global basis; creating jobs and prosperity in Ontario.”
Jeff Pentland, Managing Director of Northleaf Capital Partners, stated, “We are very grateful for the support and confidence that the Ontario Pension Board, our newest partner, has placed in the Fund and the NVCF investment team and program. OPB’s commitment comes with increased commitments from both BDC Capital Inc. on behalf of the Government of Canada, and the Government of Ontario.”
Northleaf Venture Catalyst Fund launched in January 2014 with backing from six venture capital fund managers — XPV Capital, Georgian Partners, Versant Ventures, Golden Venture Partners, Version One Ventures and Relay Ventures — and has seen investment into several well known technology startups, such as Wattpad, Vision Critical, Silanis, eSentire and FreshBooks.