The Toronto-based venture capital firm plans to invest in 30 early-stage companies across Canada and the U.S. Cheques will range from $500,000 to $3 million apiece, BetaKit reported. Existing investors—including BDC Capital, HarbourVest Partners, Kensington Capital Partners and RBC, among others—participated in the fund, with Deloitte Ventures joining for the first time. (The Logic, BetaKit)

Talking point: The fund closed in a tough market for venture capital. Startups raised 34 per cent less capital in 2023 than the year before, according to a report from the Canadian Venture Capital and Private Equity Association. VC firms needing to refill their coffers may also be strained. With relatively few initial public offerings and mergers and acquisitions in recent years, portfolio companies haven’t returned much to their investors, limiting what can be reinvested into new VC funds. Experienced firms with strong track records may be better positioned to raise capital in the challenging market. Golden, which launched in 2011, has backed many high-profile Canadian startups, including Faire, Waabi and Xanadu, with some big exits like Wattpad and SkipTheDishes.