Plaza Ventures is pleased to announce that in July 2017 it completed the first close of its fourth growth-stage investment fund, PV Fund IV LP. Fund IV’s limited partnership base is comprised of over 40 individual and institutional investors, including both new investors and existing investors from prior PV funds.
Fund IV marks a milestone for Plaza Ventures, as the size of Fund IV’s first close has become the largest in the firm’s history and it marks the start of the PV strategy to expand the annual capital base to include follow-on investing in high-performing portfolio companies. Approximately 60% of Fund IV’s capital will be deployed for follow-on investments, while the rest will go to net new Series A and B investments. In August, Fund IV completed follow-on investments in Fund II company StackAdapt and Fund III companies FanXchange and Mobify. Fund IV remains open for investor participation until mid-October 2017.
To support its expansion Plaza Ventures has added three new team members; Daniel Israelsohn, David Hao and Tina Saferi. Daniel joined as Vice-President, focused on Fund finance, financial due diligence and reporting. Previously, he led finance and operations for a SaaS technology company in Toronto, helping them scale-up operations and then exit to a private equity fund. David, our summer analyst, has been instrumental in helping us improve our internal processes and will be staying on part-time to assist with due diligence and market research while back at University. Tina is interning as technical analyst, helping PV to research emerging technologies and examine deal flow in key areas of interest.