The fund has already invested 30 per cent of the money in five firms. It’s looking to expand to Toronto in early 2020, and to deploy the rest of the fund into North American-based growth-stage tech firms by the end of that year. (The Logic)

Talking point: Vistara is looking to invest in 12 to 15 companies with debt financing, ranging from US$10 million to US$15 million, with the goal of helping firms grow longer before selling. Vistara has previously partnered with banks on debt financing, but it’s entering an increasingly crowded Toronto market, with big banks competing in smaller deals. Scotiabank, for example, is looking at tech deals as low as $1 million. Vistara has a strong track record, though, with a $100-million fund close in 2015, and investments and backing for this fund from Export Development Canada. The firm’s ambition isn’t limited to Toronto—it’s planning for that office to serve as a base for potential investments in Montreal, Ottawa, Waterloo and the U.S. East Coast.