Round13 Capital Announces $200 Million First Close for Round13 Fund III

New fund will support long-term partnerships with Canadian software and technology-enabled businesses as part of Round13's '100-year firm' vision

TORONTO, April 12, 2023 /CNW/ - Round13 Capital ("Round13"), a leading Canadian venture and growth-stage investment firm, today announced a successful first close of $200 million for its Round13 Fund III ("Fund III" or "the Fund"). The Fund will invest in a range of venture and growth-stage equity investments in the Canadian technology ecosystem, with hold periods of 5-10 years, aligning with Round13's goal of building enduring, long-term partnerships with its portfolio companies.

In line with Round13's commitment to building a lasting firm that serves Canada's best entrepreneurs for the next 100 years, Co-Founders Bruce Croxon and John Eckert have appointed General Partners Brahm Klar and Wilson Lee as Managing Partners for Fund III. Croxon and Eckert will continue to lead the Toronto-based firm they founded, while Klar and Lee will be responsible for the day-to-day operations of the Fund.

"It's a very conscious decision to build a firm designed to last beyond its founders, particularly an investment firm. As dedicated operators and investors in the Canadian venture capital space, we are committed to ensuring Round13 grows and prospers alongside its investors across this century and beyond," said Croxon.

"Through this successful first closing, and the appointment of two experienced managing partners, Round13 is well-positioned to continue driving growth and success for its portfolio companies while simultaneously building an enduring and sustainable firm for the long-term," Eckert added.

"We are absolutely thrilled to take on these new roles and for the opportunity to build upon the foundational work that Bruce and John have done to transform Round13 into a leading VC firm," said Klar and Lee. "We're looking forward to working with start-ups and leading companies across Canada's vibrant and rapidly expanding technology sector to help them achieve their full potential."

Round13 has a rich history of being an accomplished software and technology-enabled services investor focused on Canadian investment opportunities with attractive risk-adjusted return profiles. Round13's most recent fund – Ventures II, a 2019 vintage $158mm fund – has generated top quartile returns.

In addition to launching Fund III, Round13 has officially rebranded its Growth Fund to the PropelR Growth Fund. The PropelR Growth Fund will be led by its Co-Founder and Managing Partner Sanjiv Samant and will focus on later stage pre-IPO companies with hold periods of 2-3 years. This branding change will better reflect the independent and unique strategies of Round13 Fund III and that of PropelR Growth Fund.

About Round13 Capital

Founded in 2013, Round13 Capital is a leading venture and growth equity investment platform based in Toronto, Canada. The firm invests in high-potential companies across a range of sectors, with a focus on supporting their growth and development over the long term. Round13's team of experienced investors and operators bring a wealth of expertise and insight to every investment, helping portfolio companies to realize their full potential. With a commitment to building an enduring 100-year firm, Round13 is dedicated to creating long-term value for its investors and the companies it supports. For more information, please visit www.round13.com.

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SOURCE Round13 Capital