Canada-based venture capital fund manager Teralys Capital has closed a C$375m ($290m) fund of funds having secured capital from limited partners including pharmaceutical company Knight Therapeutics and enterprise software provider OpenText.
Founded in 2009, Teralys oversees C$1.6bn of assets spread across four funds. The newly closed Teralys Capital Innovation Fund was set up as part of the Canadian government’s Canada’s Venture Capital Action Plan and was oversubscribed.
The fund’s other LPs include Caisse de dépôt et placement du Québec, Fonds de solidarité FTQ, Investissement Québec, BDC Capital, Fondaction CSN, Fiera Capital, Lune Rouge, Bpifrance, National Bank of Canada, La Capitale, Desjardins Group and Consensus Business Group.
Teralys Capital Innovation Fund has already made 10 fund investments, with its portfolio including Georgian Partners, iNovia Capital and OpenText Enterprise Application Fund, as well as direct investments in companies such as Zymeworks, Lightspeed, eSentire and Luxury Retreats.