The Vancouver-based venture capital firm said this is the first close of its $200-million Innovation Growth Fund II, with participation from PSP Investments, BDC Capital, the Ontario Capital Growth Corporation, Alberta Enterprise and others. (The Logic)

Talking point: The fund, which Yaletown called “a pan-Canadian platform,” will invest in companies that disrupt traditional industries through data and technology like machine learning and artificial intelligence. This brings Yaletown’s total active funds to more than $375 million. Its portfolio companies include Vancouver-based Tasktop and Edmonton-based Showbie. Its most recent exit was in July, after Sodexo, a food-services and facilities-management company, acquired its investee Vancouver-founded online caterer Foodee.