Celtic House Venture Partners says its new fund will focus on early-stage investment opportunities in media communications technology and is backed by the Ontario Venture Capital Fund, Teralys Capital, Export Development Canada and BDC Venture Capital.
Celtic House manages more than $425 million across three funds, and has offices in Toronto, Montreal and Ottawa.
The firm had $135 million invested in local companies as of last summer. Over the years, it has made investments in eBillme, dna13, Overlay.TV and DragonWave.
Data released by the Canadian Venture Capital & Private Equity Association last week showed local investments fell in the first quarter, both year-over-year and in comparison to the fourth quarter of 2011.