The Toronto-based venture capital firm surpassed its US$200-million target for the fund, its first pool of capital for direct investments in growth-stage firms. It did not disclose who invested in the fund. (The Logic) 

Talking point: The firm said in a release that it plans to spend the money on “high-potential, innovative companies” in the health-care and tech spaces in North America. It will also participate in “opportunistic secondary transactions”—deals in which Northleaf would buy shares from existing investors or founders for a stake in a company. The growth fund is just one aspect of Northleaf’s sprawling private funding business, which already includes a robust secondaries fund. The firm also plays a hand in fuelling Canada’s broader venture capital machine. It’s one of four firms the federal government has funded through its Venture Capital Catalyst Initiative to invest in other Canadian VC firms that in turn fund the country’s tech startups.