Vistara Capital Partners announced today the oversubscribed final close of its Vistara Technology Growth Fund III LP, reaching its hard cap of 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.”

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.