Northleaf Capital Partners has held a final and above target closing of Northleaf Growth Fund LP (NGF), the firm’s first direct growth equity fund, with $212 million of capital.
NGF will invest in North America-based growth-stage technology and healthcare companies through a combination of direct co-investments and opportunistic secondary transactions.
Limited partners in Northleaf’s funds include corporate, public and multi-employer employee pension and benefit plans, endowments, foundations, government agencies, financial institutions, family offices and high net worth individuals.
“We are very pleased by the strong support from both new and existing investors in our growth fund,” said Mike Flood, a managing director and head of private equity at Northleaf. “Investors in our growth equity strategy benefit from the direct and secondary investment capabilities of the broader Northleaf global platform.”
Northleaf Capital was founded as TD Capital, a subsidiary of Toronto Dominion Bank (TD Bank), in 1986 and spun out of the bank as an independent firm in 2009. The closing of NGF expands Northleaf’s private equity, venture capital, and growth equity strategies which has now raised more than $13 billion of capital and, when combined with other recent fundraising efforts, has $24 billion of total capital under management.
“Our consistent, proactive deal sourcing approach, which leverages our deep relationships and extensive existing portfolio, enables us to source high-conviction opportunities for our investors,” said Ian Carew, a managing director and venture partner at Northleaf. “We are seeing a strong pipeline of opportunities, and our experienced team is excited to put capital to work on behalf of NGF’s investors at the attractive valuations available in the current environment.”
Northleaf has more than 250 professionals across offices in Toronto, Chicago, London, Los Angeles, Menlo Park, Melbourne, Montreal, New York and Tokyo.
© 2024 Private Equity Professional | February 14, 2024
