Kensington Launches $160 Million Investment Fund
Emerging technology companies in Canada received a piece of good news today when Kensington Capital Partners announced the launch of the Kensington Venture Fund with an initial closing of investor commitments totaling $160 million, the next step in the Government of Canada’s Venture Capital Action Plan (VCAP). This new fund of funds will invest in promising VC funds and companies in the technology, cleantech, IT, telecommunications, and digital media sectors.
Kensington Capital Partners has been selected by lead investors to act as the general partner for the Fund, following a fair and competitive selection process led by the Venture Capital Expert Panel. Investment decisions will be made by Kensington Capital Partners based on market-based principles in order to maximize returns.
The Government’s stake in the Kensington Venture Fund will be 33 per cent, meaning that a majority of the investment will come from the private sector.