Le Lézard
Classified in: Science and technology
Subjects: Photo/Multimedia, Funding

Vistara Closes Oversubscribed Technology Growth Debt Fund at US$115 Million


Vistara Capital Partners ("Vistara") has announced the oversubscribed final close of its Vistara Technology Growth Fund III LP, reaching its hard cap of US$115 million (CAD $150 million).

This quickly follows the fund's second close of US$75 million in July of this year. Vistara has already committed approximately 30 percent of the fund across five companies and will look to invest the balance over the next year. The fund is being deployed into North American, growth-stage technology companies seeking less dilutive financing through flexible growth debt and hybrid debt-equity solutions. Vistara's investors are mainly comprised of family offices, private foundations, wealth management firms, Export Development Canada (EDC) as its initial institutional investor, and two dozen technology industry executives who believe in Vistara's unique financing solutions for growth-stage technology companies.

"We surpassed our original US$100 million goal with support from a number of new investors and significantly increased commitments from returning investors based on our track record and a growing channel of investment opportunities," said Randy Garg, Founder and Managing Partner of Vistara. "We are very grateful for the confidence shown in our ability to create value for our investors and portfolio companies."

Growth debt and hybrid debt-equity solutions are being increasingly utilized by technology companies looking to accelerate growth. Vistara's financing is complementary to and often done in partnership with bank lenders and traditional venture capital or growth equity investment. Vistara has also found great success working with founder-owned, bootstrapped companies, which are mindful of preserving ownership and control as they seek expansion financing or partial liquidity prior to an exit.

"Zafin has enjoyed a great relationship with the team at Vistara, who has consistently supported our goals at different points in our growth cycle including our most recent equity round which Vistara converted into and led," said Zafin Founder and CEO, Al Karim Somji. "Their patient and creative investment structures have enabled us to fund our accelerated growth path, all while creating the flexibility to raise equity capital at more optimal junctures and limit overall dilution."

To support the fund and future developments, Vistara will be opening a Toronto office in the new year, with further expansion planned to support its investment activities across North America.

"With our larger fund and expanding team, we can further accelerate the ambitions of a growing set of emerging technology leaders, all while conserving ownership and control for founders and existing investors," said Noah Shipman, Partner at Vistara.

About Vistara Capital Partners

Headquartered in Vancouver BC, Vistara Capital provides highly flexible and less dilutive growth debt and hybrid debt-equity financing solutions for mid-late stage technology companies across North America. Founded, managed, and funded by seasoned technology finance and operating executives, "Vistara" (Sanskrit for "expansion") is focused on enabling the growth and expansion of its portfolio companies. Additional information is available at www.vistaracapital.com.


These press releases may also interest you

at 00:30
Frost & Sullivan recently researched the data center colocation services industry and, based on its findings, recognizes STT GDC India with the 2023 Indian Company of the Year Award. STT GDC India is a pioneer data center solutions provider that...

at 00:25
Shanghai Junshi Biosciences Co., Ltd ("Junshi Biosciences," HKEX: 1877; SSE: 688180), a leading innovation-driven biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies, announced its financial...

at 00:24
In the news release, Roborock Reports 2023 Full Year Financial Results, issued 28-Mar-2024 by Roborock over PR Newswire, we are advised by the company that in the first bullet point of "Growth across Product Categories", the USD amount should read...

28 mar 2024
The opening ceremony of the Boao Forum for Asia (BFA) Annual Conference 2024 was held in Boao, south China's Hainan Province on Thursday, with China's top legislator Zhao Leji stressing China's economic potential, appealing to international investors...

28 mar 2024
OKX Ventures, the investment arm of leading Web3 technology company OKX, has issued updates for March 29, 2024. OKX Ventures...

28 mar 2024
Curio Legacy Ventures (Curio), a frontrunner in nuclear technology innovation, proudly announces a strategic partnership with Navarro Research and Engineering, Inc. (Navarro). This collaboration signals a significant step forward in advancing nuclear...



News published on and distributed by: