The Vancouver-based venture capital firm, which runs an accelerated fundraising process, said it took three months to close the fund, compared to eight months for its first $14-million fund and four for its second $33-million fund. This latest raise was oversubscribed by $20 million. (The Logic)

Talking point: Rhino said it aims to fill a void of early-stage capital in Western Canada, supporting homegrown companies such as Thinkific and Klue. A dozen founders of its portfolio companies, including Thinkific’s Greg Smith and Article’s Aamir Baig, are among the fund’s backers. Other investors include Kensington Capital Partners, BMO Capital Partners, CIBC and Rhino General Partners, the last of which represents about nine per cent of the fund. Rhino said it will consider investments across all sectors in early-stage tech startups, mostly in Canada, with initial cheques ranging from $500,000 to $5 million.