BMO Private Bank Asia, which is owned by Bank of Montreal, has forged an alliance with Northleaf Capital Partners, a $12bn global private markets investment firm, to offer entry into the Northleaf Venture Catalyst Fund II (NVCF II), according to a statement from the bank.
The Montreal-based wealth manager’s Asia-based clients can participate through a feeder fund created by Artivest (a digital platform for alternative investments).
NVCF II invests in Canadian venture capital and growth equity funds and companies in the ICT, clean technology, health science, and other technology sectors. It was set up under the Canadian government’s Venture Capital Catalyst Initiative (VCCI), which focuses on supporting the venture capital ecosystem.
Through the VCCI programme, the government has made C$400m ($297m) available to help Canadian innovative companies expand, and to act as a catalyst for attracting private capital, the statement said.
“Canada is increasingly recognized for its world class venture capital industry and innovative technology sector,” Monique Chan, CEO of BMO Private Bank Asia, said in the statement.
“BMO’s strong presence in both Asia and North America enables us to connect our clients cross-Pacific to exclusive investment opportunities such as this.”