A Canadian government-backed investment fund set up to help revive the country's ailing venture capital industry raised C$217.5 million ($198 million) at its initial closing, its backers said on Tuesday. The Northleaf Venture Catalyst Fund raised C$145 million from institutional and corporate investors, including Canada's biggest banks, with the rest contributed equally by the federal and Ontario governments.It will be managed by Northleaf Capital Partners and invest mostly in domestically focused early- and mid-stage venture capital funds, as well as directly in Canadian startups.The fund is part of a C$400 million plan to support Canada's venture capital industry announced in the federal budget last year. The fund has a target of raising C$300 million, and plans to hold a second closing later in 2014.It was backed by Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank of Canada , Royal Bank of Canada, Bank of Nova Scotia , and Toronto-Dominion Bank.
Bank of Montreal (BMO Financial Group) is a diversified financial services provider that provides a range of retail banking, wealth management and investment banking products and services. Shares of BMO traded higher by 0.3% or $0.2/share to $66.40. In the past year, the shares have traded as low as $55.61 and as high as $71.26. On average, 343600 shares of BMO exchange hands on a given day and today's volume is recorded at 149438.
Shares of BMO traded higher by 0.05% or $0.04/share to $72.88. In the past year, the shares have traded as low as $58.68 and as high as $74.69. On average, 1340790 shares of BMO.TO exchange hands on a given day and today's volume is recorded at 743430.
The Bank of Nova Scotia (the Bank) is a diversified financial institution. Shares of BNS traded higher by 1.77% or $1.03/share to $59.22. In the past year, the shares have traded as low as $52.05 and as high as $63.50. On average, 427313 shares of BNS exchange hands on a given day and today's volume is recorded at 412644.
Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. Shares of CM traded higher by 0.83% or $0.672/share to $81.68. In the past year, the shares have traded as low as $69.92 and as high as $87.51. On average, 164060 shares of CM exchange hands on a given day and today's volume is recorded at 88693.
Canadian Imperial Bank of Commerce (CIBC) is a global financial institution. Shares of CM traded higher by 0.32% or $0.29/share to $89.65. In the past year, the shares have traded as low as $73.89 and as high as $91.90. On average, 993114 shares of CM.TO exchange hands on a given day and today's volume is recorded at 521033.
National Bank of Canada (the Bank) is a bank. The Bank provides integrated financial services to retail, commercial and corporate/institutional clients. Shares of NA fell by 0.4% or $-0.355/share to $89.22. In the past year, the shares have traded as low as $71.77 and as high as $93.92. On average, 556090 shares of NA.TO exchange hands on a given day and today's volume is recorded at 623067.
Royal Bank of Canada (RBC) is a diversified financial services company. Shares of RY traded higher by 1.76% or $1.1499/share to $66.66. In the past year, the shares have traded as low as $55.49 and as high as $68.89. On average, 513152 shares of RY exchange hands on a given day and today's volume is recorded at 311569.
Royal Bank of Canada (RBC) is a diversified financial services company. Shares of RY traded higher by 0.45% or $0.33/share to $73.19. In the past year, the shares have traded as low as $58.55 and as high as $72.86. On average, 2129270 shares of RY.TO exchange hands on a given day and today's volume is recorded at 2402328.
The Toronto-Dominion Bank is a Canada-based bank, offering a range of financial products and services through TD Canada Trust, TD Bank, TD commercial Bank, TD commercial Banking and TD Auto finance. Shares of TD traded higher by 1.05% or $0.9347/share to $90.32. In the past year, the shares have traded as low as $76.44 and as high as $94.66. On average, 390725 shares of TD exchange hands on a given day and today's volume is recorded at 191979.
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