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PRINT THIS PAGE First closing of Tech Capital Partners' second venture technology fund on Can$50m22/07/2005. Source: AltAssets. 
 Canadian venture capital firm Tech Capital Partners has completed a first closing of its second venture capital fund, Tech Capital II, on Can$50m. The fund has a target of Can$60m and is expected to close in the fourth quarter of this year. It will focus on seed and early-stage technology company investments in the Waterloo, Ontario region.
Existing and new institutional investors have committed to the fund, including BDC Venture Capital, EdgeStone Capital Partners and OMERS Capital Partners.
Brian Elder, vice president, fund investments at BDC Venture Capital and lead investor, said, 'BDC has partnered with Tech Capital since its inception in 2001 and has seen, first hand, the quality of investment opportunities in this region.'
'Waterloo Region is one of the most significant technology clusters in Canada and Tech Capital Partners has established itself in this region as a venture capital firm that provides the hands-on assistance emerging technology companies need to successfully commercialise their inventions,' Elder continued.
Tech Capital II brings the firm's total capital under management to Can$85m. Tech Capital Partners' first fund, Waterloo Tech Capital, closed on Can$30m in 2001. The firm also manages a Can$5m venture capital fund on behalf of GrowthWorks Canadian Fund. The firm typically invests $1-2m in a company's seed round and then continues to support companies through follow-on investments. Tech Capital Partners' investments include Covarity, DiskStream and Sandvine.
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