The growth stage fund’s CEO George Rossolatos said it aims to do five to seven investments this year, ramping up to 10 to 12 investments or follow-ons a year. The fund, which has announced three investments so far, launched in 2018 with an initial commitment of $545 million from banks like the RBC and TD and insurers like Manulife. Inspiration for the fund came from the federal government’s Advisory Council on Economic Growth report noting the lack of growth capital in Canada. (Financial Post)

Talking point: The CBGF is focused on growth-stage capital. With it and the government’s $350-million Venture Capital Catalyst Initiative (VCCI)—which is spurring late-stage capital investment through five fund-of-funds—the next several years will see more capital available for mature companies in Canada. In January, Canadian investors told The Logic that some funds moved their strategy upstream in order to qualify for VCCI funding. However, this focus on late-stage companies could create gaps for pre-seed and seed-stage companies seeking capital in the long term.