Canadian PE Alphi Capital Closes Oversubscribed Debut Fund at $295M

Toronto-based lower middle-market private equity firm Alphi Capital closed its debut fund oversubscribed at $295M, against a target of $200M, according to a January 8 news release.

Alphi Capital I generated support from North American investors including pension funds, foundations and endowments, government agencies, insurance companies, family offices, fund of funds and individual investors. The Massachusetts Pension Reserves Investment Management Board committed to investing $20M in the strategy, according to Dakota data.

The Canadian firm targets service-based companies in its home country with EBITDA in the range of $5M to $10M. To date, the newly closed fund has made investments in Da-Lee Services, K2 Fasteners and Eastbay Technologies.

Metric Point Capital acted as the exclusive placement agent for the fundraising, while Torys provided Alphi Capital with legal counsel both in Canada and the US.