A new CA$300 million fund, Northleaf Venture Catalyst Fund, has been launched as part of the Canadian government's Venture Capital Action Plan (VCAP). The vehicle will be managed by Northleaf Capital Partners. Canada's federal goverment and Ontario's provincial government each contributed CA$36.3 million to the fund, which has held its first closing of CA$217.5 million. Canada Pension Plan Investment Board was also among the fund's investors. VCAP is a CA$400 million program that launched in January 2013 and is designed to help stimulate early stage venture capital investments in Canada.