The latest in funds and investment news from across North America.

HarbourVest Partners
HarbourVest Partners, a global private markets asset manager, yesterday said it was holding the final closing of its C$300 million HarbourVest Canada Growth Fund II. 

The fund, formed under the Government of Canada's Venture Capital Catalyst Initiative (VCCI) to increase the availability of venture capital in the country, was oversubscribed and closed at the fund’s hard cap six months after its initial closing in April.

HarbourVest’s VCCI investment mandate focuses on investing in leading Canadian venture and growth managers. Canada Growth Fund II has committed to six partnerships and has made two direct investments to date.

The firm said its commitments to Canadian fund managers include iNovia Capital, Information Venture Partners, McRock Capital and Georgian Partners. The portfolio is complemented by investments in US and international venture managers such as Versant Ventures, a life sciences investor active in Canada.

Limited partners in the fund are based in Canada, the US, and Europe, and are primarily institutional, corporate, and high net worth private sector investors. As part of the VCCI program, the fund includes a cornerstone investment by the Government of Canada, through BDC Capital, the investment arm of BDC.