Lumira Capital IV, L.P., a new health care and life science venture capital fund managed by Lumira Capital, has secured initial commitment from the BC Tech Fund managed by Kensington Capital Partners Limited.
Dr. Richard Glickman, Chairman & CEO of Victoria, B.C.-based Aurinia Pharmaceuticals (TSX: AUP; NASDAQ: AUPH) has joined Lumira Capital as a partner.
Lumira Capital has yet to make an announcement on closing of its new fund. Lumira Capital’s previous fund, Lumira Capital II, is a 2012 vintage fund with $116 million commitments. Known LPs include BDC Capital Inc./VCAP, Teralys Capital, Fonds de solidarité des travailleurs du Québec (F.T.Q.), Ontario Venture Capital Fund/Northleaf Capital Partners Ltd., and Merck & Co., Inc.
“Government is pleased to see Kensington supporting a new B.C. platform for one of North America’s leading health care and life science venture capital firms,” said Teresa Wat, Minister of International Trade. “This new investment in Lumira Capital IV from our $100 million BC Tech Fund will establish an important new source of venture capital for B.C.-based health care and life science companies, catalyzing economic growth, investment and jobs for the Province.”
“British Columbia is home to some of the most exciting biomedical innovations in the world,” said Dr. Glickman. “I look forward to continuing to support entrepreneurs in the Province and this new commitment to Lumira will be an importance catalyst for financing and growing world-class life science companies here.”
“We are very happy to have the BC Tech Fund as a Limited Partner, and continue to build our presence in the B.C. life science and health care community,” said Peter van der Velden, Managing General Partner of Lumira Capital. “This new investment from the BC Tech Fund will help us to invest in the success of more B.C. companies.”
photo credit: FotoshopTofs via pixabay