Northleaf closes $675 million USD for latest private equity fund

Fund size exceeds Northleaf’s target of $600 million.

Northleaf Capital Partners has held the final closing of its latest private equity fund, raising $675 million.

The total exceeds Northleaf’s original goal of $600 million, according to the company.

Northleaf’s total capital commitments raised to date exceed $22 billion.

Northleaf Private Equity Investors VIII (NPE VIII), as it’s known, is just the latest fund the company has raised, having recently closed $1.3 billion on its latest secondary fund. This fund also exceeded its target, according to Northleaf.

Northleaf has not disclosed its investors for any of the funds.

NPE VIII invests in mid-market companies through a combination of primary, secondary and direct investments. The company noted that Northleaf has increased its secondary capital by $2 billion over the past two years in both funds.

Northleaf said its private equity program currently serves more than 130 institutional and family office investors in North America, the UK and Europe, the Middle East and Africa.

Northleaf’s total capital commitments to date exceed $22 billion across its private equity, personal loan and infrastructure funds.

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Northleaf is also in the process of launching its latest venture capital fund of funds with government backing from the Venture Capital Catalyst Initiative (VCCI). Northleaf was again selected by the federal government last year as one of the trustees of VCCI’s capital alongside HarbourVest Partners, Teralys Capital and Kensington Capital Partners. Each company also managed the previous round of VCCI capital.

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The most recent fund is Northleaf’s third federally backed venture fund, which also received capital from the Venture Capital Action Plan (VCAP) program in 2014 for its first Northleaf Venture Catalyst Fund.

For its second Catalyst fund in 2017, Northleaf raised CA$300 million, of which CA$85.7 million came from the Canadian government.

The government has not disclosed how much has been allocated to each VCCI-backed company from the final $350 million pot.

Northleaf has not revealed details about the fundraising for its latest fund of funds.

Through its most recent fund of funds, Northleaf has invested in companies including Inovia Capital, StandUp Ventures, Georgian Partners, Garage Capital, Information Venture Partners, Golden Ventures and Version One Ventures.

Northleaf has also invested directly in technology companies like Verafin, Ecobee, FreshBooks, and Shopify through its various funds.

Feature image courtesy of Unsplash. Photo by Justin Cron.


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