Bruce Croxon and John Eckert are passing the leadership of the Toronto-based fund’s day-to-day operations to general partners Brahm Klar and Wilson Lee. The co-founders will remain on the firm’s investment committee. (The Logic)

Talking point: “It’s a very conscious decision to build a firm designed to last beyond its founders, particularly an investment firm,” Croxon said in a press release. The fund’s first close brings it nearly to its $300-million target, which will be almost double the size of its 2019 fund. It’s the latest in a string of Canadian venture funds to announce substantial fundraises, despite the challenging market. Along with the leadership changes, Round13 announced it has rebranded its growth fund. The newly named PropelR Growth Fund, led by managing partner Sanjiv Samant, will focus on later stage, pre-IPO companies.