Toronto-based fintech-focused venture capital firm Information Venture Partners has closed its third fund at US$101 million.
Spearheaded by former Royal Bank of Canada executives, Information VP focuses on four areas: companies selling exclusively to banks, insurers, capital markets and asset managers, as well as horizontal SaaS companies selling to financial institutions, and finally cybersecurity and financial software.
The new fund has backing from a host of institutional fund of fund investors and four of Canada’s six largest banks.
Dave Unsworth, general partner, Information VP, says: “Looking to the future, we remain very optimistic about our core investment thesis areas and we’re grateful for the confidence investors and entrepreneurs have placed in us and we will continue to work diligently to scale businesses as we emerge from this once-in-a-generation pandemic.”