HarbourVest Partners Selected to Participate in Canadas Venture Capital Catalyst Initiative

HarbourVest Partners, a global private markets asset manager, today
announced that it has been chosen by the Government of Canada to
participate in the country’s Venture Capital Catalyst Initiative (VCCI)
to increase the availability of late-stage venture capital in Canada.
The Government of Canada, through the Business Development Bank of
Canada (BDC), has committed to support the creation of a new venture
capital fund of funds formed under the VCCI program.

“We are honored to have been chosen to participate in the new
Canadian-focused Venture Capital Initiative,” said Senia Rapisarda,
Managing Director at HarbourVest in Toronto. “Following on the success
we have had with Canada’s Venture Capital Action Plan program, we’re
aiming to continue injecting growth capital into innovative Canadian
small and medium-sized businesses through VCCI. We are very pleased with
how our portfolio is developing under VCAP, which to date includes
commitments to 12 Canadian managers, eight US managers, and nine
companies, and we look forward to implementing the strategy of the VCCI
program on behalf of investors.”

HarbourVest’s VCCI investment mandate will focus on investing in a core
group of Canadian venture and growth managers, top-tier international
managers that have historically invested in Canadian companies, as well
as making direct co-investments into Canadian companies in growth equity
stage transactions.

In order to help increase gender equality in venture capital and support
women-led companies, the Canadian government stressed the importance of
diversity in its selection process and required that each investment
manager in the VCCI program demonstrate how it will enhance diversity
and increase the participation of women across the venture capital

“Increasing gender diversity in our industry has been an important focus
of HarbourVest and is part of our environmental, social and governance
(ESG) investment and fund diligence screening process,” continued Ms.
Rapisarda. “As a female leader in our industry, it was especially
gratifying to see the emphasis placed on how the participating
investment managers will enhance diversity and increase the
participation of women across Canada’s VC industry.”

HarbourVest was recently recognized as McRock IIoT Diversity Leader of
the Year 2018 at the annual McRock Industrial Internet of Things (IIoT)

HarbourVest has been making investments in Canada since 1989, with more
than $700 million of indirect investments into over 450 Canadian
companies through primary fund investments and secondary investments,
and investments of $170 million in Canadian growth equity transactions.2
The firm opened its office in Toronto in 2015, led by Ms. Rapisarda, and
expanded its Toronto presence in 2018 to support its growing team.
HarbourVest’s Canada team includes 10 professionals, including recent
hires Daniel Conti, most recently with CI Institutional Asset
Management, and Abigail Rayner, who previously held roles with Octopus
Investments and Canada Pension Plan Investment Board.


HarbourVest is an independent, global private markets asset manager with
more than 35 years of experience and more than $50 billion in assets
under management. The Firm’s powerful global platform offers clients
investment opportunities through primary fund investments, secondary
investments, and direct co-investments in commingled funds or separately
managed accounts. HarbourVest has more than 400 employees, including
more than 100 investment professionals across Asia, Europe, and the
Americas. This global team has committed more than $34 billion to
newly-formed funds, completed over $19 billion in secondary purchases,
and invested over $8 billion directly in operating companies. Partnering
with HarbourVest, clients have access to customized solutions,
longstanding relationships, actionable insights, and proven results.

1 Awards do not necessarily represent investor experience
with HarbourVest or its Funds, nor do they constitute a recommendation
of HarbourVest or its services. Certain awards are based on surveys that
are not limited to investors in Funds and may not have included all of
the investors in Funds. Awards are not a reliable indicator of
HarbourVest’s future performance. HarbourVest is not affiliated with any
of the awards sponsors listed below, but may have been required to pay
certain fees in connection with awards entries. The award is presented
by McRock Capital; the winners were selected by an industry-led judging
committee. HarbourVest was not part of this judging committee.

2 Data as of March 31, 2018

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