Kensington Capital Partners’ Kensington Venture Fund has increased total investor commitments to the fund to CAD237 million. The Fund's third closing includes new commitments from institutional, family office and individual investors.
"We are pleased to see the increased investor attention to the Kensington Venture Fund," says Kensington Managing Director Rick Nathan. "As our portfolio takes shape, we can see the entire Canadian venture capital sector getting a strong boost from the Venture Capital Action Plan."
Launched in November 2014 with CAD160 million in initial investor commitments, the Fund received a lead investment from the Government of Canada's Venture Capital Action Plan (VCAP), a CAD400 million strategy designed to increase private sector investments in emerging Canadian technology companies. The Fund began its investment program in November 2014, and has now completed investments in seven Canadian based venture capital funds and direct investments in 4 Canadian companies.
The Kensington Venture Fund is a fund of funds investing in promising VC funds and technology companies in the IT, telecommunications, energy, cleantech, and digital media sectors. The fund remains open to new accredited and institutional investors until it reaches its maximum size of CAD300 million.
