Yaletown Venture Partners, a Vancouver, BC-based venture firm, said today it has raised $65 million in the initial closing of its second fund, which it estimates will grow into a $100 million fund over the next 12 months. The new pot of money will be used for cleantech and information technology investing in Western Canada, and some select cleantech deals in the U.S. Pacific Northwest and across other parts of Canada, the company said. Yaletown noted that it raised its first fund, worth $42 million, during “challenging market conditions” of 2003.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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