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Kensington Venture Fund completes second closing at USD193m

Kensington Capital Partners (Kensington) has held the second closing of the Kensington Venture Fund (Fund) increasing total investor commitments to the fund to USD193 million. 

The fund's second closing adds Torstar Corporation to the list of investors, and includes increased commitments from RichardsonGMP and other investors who participated in the initial round.

"We appreciate the confidence and support of all of our investors," says Rick Nathan, Managing Director, Kensington Capital Partners. "It is great to add new partners – and see increased commitments from some of our prior investors – as the portfolio gains traction with its investments."

Launched in November 2014 with USD160 million in initial investor commitments, the fund received a lead investment from the Government of Canada's Venture Capital Action Plan (VCAP), a USD400 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 six Canadian based venture capital funds and direct investments in four Canadian companies.

"The current venture capital market remains very strong, and our pipeline of high quality investment opportunities continues to grow," says Nathan. "In this environment, our team has been moving quickly to implement our strategy and assemble the core building blocks of our portfolio."

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 USD300 million.

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