The Ontario Venture Capital Fund has made a commitment of $20 million to EdgeStone Capital Venture Fund, an Ontario-based venture capital fund focused on early and growth stage Canadian information technology companies, the OVCF said Wednesday.

“Our commitment to EdgeStone underscores OVCF’s strategy of strengthening Ontario’s venture capital industry by investing in managers capable of generating top-tier returns,” says Melissa McJannet, managing director of TD Capital Private Equity Investors, the manager of OVCF.

By providing capital to promising Ontario funds, OVCF seeks to promote the ability of the province’s venture capital sector to support innovative, high-growth companies in Ontario by making it easier for them to find the capital, expertise and support they need.

EdgeStone is managed by a team of five investment professionals with a mix of operating, technical, and financial experience. The EdgeStone team has more than 50 years cumulative experience investing in and operating Canadian growth companies. EdgeStone’s track record of successful investments includes Ontario-based companies such as Workbrain, SlipStream Data, Protus IP Solutions, and Varicent.

As the lead investor in EdgeStone Capital Venture Fund III, OVCF’s commitment will assist the fund in reaching its first close milestone of $100 million and achieving its ultimate target of $150 million in total capital commitments.

The $205 million OVCF is structured as a fund of funds with the primary objective of generating attractive returns for its investors. The fund is managed by TD Capital Private Equity Investors.

IE