Vancouver’s Vistara Capital Partners has closed a $100 million technology growth capital fund.
The fund, which took a modest four months to raise its target of $100 million, will provide growth capital to technology and technology-enabled services companies generating $10 million to $200 million in revenue and located across Canada and the western United States.
“We fill the financing gap between where banks leave off for higher-growth technology companies, and where traditional venture capital, private equity or the public equity markets typically look to play,” says Fabio Banducci, Managing Partner. “With creative and flexible debt-oriented solutions, we can support the growth-capital needs of companies with far less dilution than equity-only financings, or in some cases, help companies avoid selling too early when growth capital simply isn’t available to them.”
The fund will invest between $5 million and $15 million per company in private or public companies, with additional co-investment capacity through its network of LPs.
“Leveraging the experience and contacts of our investors across a broad cross-section of technology-related sectors uniquely positions us to help a wide variety of technology growth companies beyond just funding,” says Randy Garg, cofounder of Vistara. “It’s been a very busy past few months completing fundraising, leading our first investment, and continuing to build out our team.”