Active Impact Fund III initial closes at $70M

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By CPE News

Active Impact Investments Management Inc. has held an initial close for its third fund, Active Impact Fund III, with over $70 million in capital commitments.

Launched last month, Fund III, aiming to raise up to $120 million in final closings, will double the size of Fund II which was launched in February 2021 and final closed in September 2021.

Active Impact Investments I Limited Partnership closed in 2017.

Fund III is one of the fast fundraising funds in Canada with an interval of less than 3 years.

Fund III limited partners include Northleaf Capital Partners, Fondaction, Co-operators, University of Victoria, Deloitte, and others.

Fund III, as all the previous funds, is led by general partners (GPs), Mike Winterfield and Tom Boddez.