Real Ventures Fund III Reaches $75 Million, Expands Presence in Toronto and Waterloo

The Montreal-headquatered Real Ventures announced today an additional $25 million in commitments led by several major institutional investors.

The big move takes its latest web, mobile, and internet focused fund to $75 million.

With the increased investment, Real Ventures announced they will be expanding its activities in Ontario supported by two new appointments.

Joining as a General Partner is former eBay and Kijiji executive Janet Bannister, together with former consultant and startup entrepreneur Omar Dhalla, who is joining as a Principal.

While all the Real Ventures team will be engaged across Canada, these Toronto-based professionals “will enable the fund to be more proactively involved in the startup communities along the Toronto-Waterloo corridor,” according to RV.

“We’re delighted to have Janet and Omar join our team,” said John Stokes, General Partner at Real Ventures. “Their combined experience in digital media, e-commerce and corporate strategy will be a great asset to early companies across Canada.”

The principal investors in this close are the Business Development Bank of Canada, Export Development Canada, and Fondaction CSN. Participating alongside are a select number of family offices and individuals, in addition to Real Ventures’ General Partners. They join earlier investors Teralys Capital, FIER Partenaires, and the Government of Canada via its Venture Capital Action Plan.

“We’re delighted to be continuing BDC Capital’s longstanding partnership with Real Ventures in committing to their Fund III, ” said Neal Hill, VP, Fund of Funds at BDC. “From their creation of FounderFuel, through their catalytic role in the establishment of the Notman House innovation centre, to the raising of their third venture fund, we have worked closely with Real Ventures.”

Real Ventures’ third fund, as with previous funds, will be invested in entrepreneur-led companies that are building the Internet experiences of the future or that are using the power of the Internet to transform industries. The vast majority of the funds will be invested in Canadian companies.

Real Ventures has been active since 2008 and was a seed investor in high profile Canadian companies such as Beyond the Rack, Frank & Oak, and Unbounce. According to data from Thomson Reuters, Real Ventures was the number one private VC investor in Canada in terms of seed-stage investments in 2013. It made 16 investments during the year and exited two portfolio companies.