Round 13′s co-founders are stepping back as managing partners, but will continue to remain on its investment committee
Celebrity entrepreneur-turned-financier Bruce Croxon and business partner John Eckert are passing leadership of their Toronto venture capital firm, Round 13 Capital, to its next generation of partners after raising $200-million for their new fund.
Mr. Croxon, 61, said in an interview he and 66-year-old Mr. Eckert made a “very deliberate, conscious decision that we want Round 13 to be around 100 years from now,” and the best way to do that was make an orderly transition to new leadership. For now they will continue to lead Round 13 and remain on its investment committee. “The passion is still there,” he said. “I’m still so fired up about growing Canadian technology companies.
The two funds add to a growing list of Canadian venture capital firms that have recently hit fundraising goals despite mounting challenges in the technology space. Last month, Vancouver’s Yaletown Partners reached the $200-million fundraising target for its innovation growth fund, while veteran tech executive and deal maker Janet Bannister raised $22-million of a $30-million target for the first fund of her new firm,. Radical Ventures has raised most of its planned US$550-million second fund.
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