The venture capital firm, which has offices in Montreal and Toronto, raised money from a number of high-profile Canadian limited partners, including Caisse de dépôt et placement du Québec, Desjardins, BDC Capital, Sun Life, Industrial Alliance Financial Group (iA), Venture Ontario and Alberta Enterprise Corporation. The fund brings Luge’s total assets under management to $180 million. (The Logic)

Talking point: The early-stage fintech investor announced its initial raise of $71 million for the fund last September. The long fundraising horizon isn’t unusual in the current market, as many of the limited partners that back VC funds have reaped little in the way of returns on their investments in recent years. Luge hasn’t waited to deploy money from the new fund, however—it’s cut four cheques already. Along with the raise, Luge announced that Ha Duong—formerly head of finance at Toronto-based firm Georgian—has joined the team as vice-president of finance and operations.