Real Ventures raises $89 million for “a more national fund”

Janet Bannister

The Globe and Mail is reporting that VC firm Real Ventures has raised $89 million for its third fund. Real Ventures Fund III was led by investments from the McConnell Foundation of Montreal, and the Government of Canada, through the Venture Capital Action Plan (VCAP) program.

The fund will be co-managed by Janet Bannister, a General Partner at Real Ventures, who says that Fund III has a mandate to invest across Canada, specifically in the Toronto-Waterloo corridor.

“Fund III represents a very different focus,” Bannister told The Globe and Mail. “It’s our step out to become a more national fund.”

Bannister joined Real Ventures last September, leading nine investments for the firm, including funding for Mike Serbinis’ LEAGUE. Four of those investments include FinTech startups (Bannister is a member of Dream Payments board, which recently raised $6 million in funding).

Douglas Soltys

Douglas Soltys

Douglas Soltys is the Editor-in-Chief of BetaKit and founder of BetaKit Incorporated. He has worked for a few failed companies and written about many more. He spends too much time on the Internet.

  • Jolie McMillian

    Big congrats. We need more female leaders in the VC space. Great business skills sets, combined with the EI, Intuitive and relationship pieces.

  • Johnk

    How the hell does “specifically in the Toronto-Waterloo corridor” represent a national fund?

    • Real has traditionally pretty Quebec focused… “more national”