The Vancouver-based venture capital firm will use the money to invest in firms from its first two funds, as well as other later-stage companies. (The Logic)
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The Vancouver-based venture capital firm will use the money to invest in firms from its first two funds, as well as other later-stage companies. (The Logic)
Talking point: Opportunity funds, which let early-stage-focused venture capital firms continue to invest in their portfolio companies as they grow, have been successful in the U.S., but are a rarity in Canada. New York-based Union Square Ventures launched its first opportunity fund in 2010. That US$135-million fund is now among the best–performing industry-wide. Investors in opportunity funds pay lower management fees and maintain longer relationships with strongly performing funds. Version One typically invests $750,000 in companies; this new fund can invest between $3 million and $5 million. The close, announced Sunday, follows a record year for Canadian venture capital, with US$4.1 billion raised over 469 deals in 2019.
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