Montréal-based venture capital firm Brightspark Ventures has closed its latest fund, BCOF II, with over $100 million CAD in commitments. The fund, initially targeted at $120 million, will continue Brightspark’s strategy of leading seed to Series A rounds for tech startups across Canada.
The firm has also expanded to British Columbia, hiring Vancouver-based Andrew Lugsdin as a new partner to capture more deal flow in the province. Despite challenging VC fundraising conditions, Brightspark’s strong support from existing investors helped secure the fund’s success, with the firm now managing over $500 million in assets.
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