Arlene Dickinson’s District Ventures Capital has held a final close for its initial fund, District Ventures CPG-1 LP, securing $27.425 million from 33 limited partner (LP) investors, just shy of its $30 million target.
Arlene Dickinson is the managing director and sole General Partner of the fund.
Bennett Jones LLP acted as legal counsel to the fund.
District Ventures Capital invests in early-stage Canadian companies that develop, manufacture, market, distribute or sell consumer-packaged goods, with a particular focus on the food, beverage, beauty and health and wellness sectors. The fund will seek investments in companies that exhibit strong and unique opportunities for market leadership, growth and economic value creation. Prospective investee companies will have strong revenues, and generally require capital for growth of up to $4 million to commercialize their products; initiate product roll-outs and expand distribution and market presence.