HarbourVest Partners secures $189.7M for Canada Growth Fund III

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By Ted Liu

HarbourVest Partners, LLC has raised CDN $189.7 million for HarbourVest Canada Growth Fund III L.P.

Limited Partners (LPs) include Canadian, British and Jersey investors.

HarbourVest Partners, Teralys Capital, Kensington Capital Partners, and Northleaf Capital were the four funds of funds recipients to $350 million allotted by Government of Canada under Venture Capital Catalyst Initiative (VCCI) initiative.

The four funds-of-funds are expected to raise $3 from private-sector investors for every $1 of public-sector capital committed, which includes capital from provincial governments and other federal government entities.

HarbourVest Partners held final close for its second VCCI fund, HarbourVest Canada Growth Fund II, at CDN $300 million in November 2019.

Boston based HarbourVest is an independent, global private markets firm with over 40 years of experience and more than US $117+ billion assets under management as of September 30, 2023.

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