Whitecap Venture Partners Closes $100 Million Series A Fund

Toronto’s Whitecap Venture Partners today announced that it has now secured $100 million in commitments for Whitecap III, the venture capital firm’s third fund.

LPs in the fund include Kensington Venture Fund, Bank of Montreal, and high net-worth families.

“Having raised $100 million for our third Fund in just over four months is a testament to our experienced team, which has invested in category leaders in key markets over the past 20 years,” says Carey Diamond, Partner, Whitecap III.

“We are looking forward to using our focused approach to investing to help support the growth and innovation of companies that are leading the way in ICT, Medical Tech, and Food Tech, while generating strong returns for our investors,” Diamond added.

Whitecap III launched at the end of April with $70 million in commitments from investors, and reached its $100 million target six weeks later.

The Series A venture capital fund is focused on Information and Communications Technology, Medical Tech, and Food Tech, three industry sectors where Whitecap has built domain knowledge and has demonstrated success.

Since launching the Fund, Whitecap III has invested in two companies. Whitecap co-led the latest round of funding secured by Real Matters, a leading provider of property information and insights to the North American real estate lending and insurance markets. The Fund also led an investment in Qvella, a molecular diagnostics company that dramatically reduces the time to results in the diagnosis of bloodstream infections.