New Kensington fund launched under Canada's venture capital catalyst initiative

Kensington Capital Partners has announced that it has raised USD 85 million in the first close of Kensington Venture Fund II, LP, a fund of funds investing in promising venture capital (VC) funds and technology companies, the company said.

The new Fund has been launched under the Government of Canada´s Venture Capital Catalyst Initiative (VCCI). Additional investors include BMO Capital Partners, Trend Forward Capital, and the Kensington Private Equity Fund, among other institutional and individual investors.

The new Kensington Venture Fund II will target investments in VC funds, as well as direct investments in promising emerging technology companies. The diversified portfolio will include investments across key technology sectors and stages, primarily in Canada. Kensington has offices in Toronto, Vancouver, and Calgary.

Kensington Venture Fund II will invest in promising venture capital funds as well as direct investments in emerging technology companies. The diversified portfolio is expected to include more than 100 companies across key technology sectors and stages. The substantial majority of underlying fund managers and direct investments will be based in Canada, with the broader fund-of-funds portfolio covering Canada and the United States. The Fund has been launched under the Government of Canada´s Venture Capital Catalyst Initiative (VCCI).

Kensington is an independent Canadian investor in alternative assets. Founded in 1996, and with offices in Toronto, Vancouver and Calgary, Kensington has invested more than USD 1.3 billion to date in private equity, venture capital, and other alternatives. Kensington´s active management approach and relationship based business has generated top quartile returns for investors. For more information, visit www.kcpl.ca.