Toronto-based Graphite Ventures has reached $110 million in the final close of its Fund IV, with $10 million coming from Alberta Enterprise Corporation (AEC) in July 2023.

Other backers of Graphite’s Fund IV include public pension fund OMERS, MaRS, and CIBC Innovation Banking; private equity funds; as well as undisclosed high-net-worth individuals, including founders from portfolio companies at the MaRS Investment Accelerator, CEOs, and ecosystem partners that the VC firm has co-invested with.