Investors in Vistara’s Technology Growth Fund V include family offices, foundations, entrepreneurs and wealth-management platforms, the Vancouver-based venture capital and private debt firm said in a release. Fund V, which invests in startups that make software for businesses, has already closed eight investments. (The Logic)

Talking point: Vistara credits its hybrid private credit strategy for raising US$630 million across five funds and delivering “mid-teen” net annualized returns, even as tech valuations and venture capital funding have slumped since 2022. Venture debt is on a hot streak, with $628 million lent in the first half of the year, on track to beat 2024’s record total, according to the Canadian Venture Capital Association. Vistara founder and managing partner Randy Garg told The Globe and Mail he expects to raise a total of US$300 million for Fund V by Sept. 30, short of his initial US$400 million goal because many investors have capital tied up in other funds.