Financial technology provider D+H has made a strategic investment in Canada-based, fintech-focused venture capital firm Information Venture Partners (IVP), helping to take its Information Venture Partners II fund to $72.5m.
IVP was originally founded in 2001 as RBC Venture Partners, a venture capital affiliate of financial services provider Royal Bank of Canada before being spun out in October 2014 through a management buyout by general partners Robert Antoniades and David Unsworth.
The firm invests in enterprise and fintech companies in the US and Canada, and currently has six active companies in its portfolio including corporate performance management software provider Adaptive Insights and fraud detection software producer Verafin.
Other limited partners for the fund include Northleaf Venture Catalyst Fund, Teralys Capital Innovation Fund and Permal Capital, and the commitments were led by funds affiliated with private equity fund of funds HarbourVest Partners.
IVP aims to raise $100m for Information Venture Partners II and reach a final later this year.