Investor Janet Bannister has raised $10 million more than she initially planned for her second venture capital fund, which will invest in early-stage startups. BDC Capital, InBC Investment Corp and the University of Alberta’s endowment fund joined previously announced backers, including RBC and Northleaf Capital Partners, PointClickCare co-founder Mike Wessinger and former Shopify chief product officer Craig Miller. (The Globe and Mail)

Talking point: Bannister stands out among the many VC investors who have struggled to raise capital recently. An RBC report published in January marked 2025 as one of the worst fundraising years since 2016, with middling returns on previous portfolio investments stymying investors’ ability to raise new funds. Staircase hasn’t yet generated cash returns from its first fund—a $34-million pool launched in 2023—but, on paper, it’s performing 10 per cent of North American funds launched in 2023, with an average 50 per cent annual internal rate of return. Five of its 12 portfolio companies have raised subsequent rounds at higher valuations.