Vanedge Capital has held a final close for its second fund, Vanedge Capital II Limited Partnership, raising $57 million in additional commitments to bring the fund size to $161 million.
Vanedge capital raised $53.5 million in January and has since added additional $3.5 million to the fund.
The B.C. Tech Fund (BC Government Fund of Funds – $15M), managed by Kensington Capital Partners, and HarbourVest Canada Growth Fund (VCAP Fund of Funds) are part of the additional closing.
Fund II limited partners also include BDC Capital, Export Development Canada, Kensington Venture Fund (VCAP Fund of Funds), NWM Private Equity Fund Limited Partnership/Nicola Wealth Management, Nicola and other individual investors and family offices.
Vanedge Capital invests in cloud computing, artificial intelligence, cyber security, SaaS and digital media.
Fund II is being managed by General Partners, V. Paul Lee and Moe Kermani, with Principal Amy Rae rounding up the investment team.
photo credit: Vanedge Capital