N49P’s $25-million USD first close for Fund IV will help it hunt more “diamonds in the rough”

Toronto-based venture capital (VC) firm N49P has completed the first close of its fourth fund, securing $25 million USD ($34 million CAD) in commitments towards its $70-million target. N49P announced the news on Thursday morning. This close is more than double the size of N49P’s second fund, which it raised in early 2020, and nearly on par with its $27.7-million USD third fund from mid-2022.