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Information Venture Partners closes third fund, raising $124 million CAD Toronto-based venture capital firm Information Venture Partners (Information VP) has closed its third venture fund, securing around $124 million CAD ($101 million USD). Information VP’s Fund III has been backed by a group of limited partners that have invested in its firm since its inception. Information VP did not disclose the names of its LPs. The firm noted the fund’s financiers also include “the five largest institutional fund of fund investors that support the Canadian venture capital ecosystem,” four of Canada’s six largest banks, other large financial institutions and insurers, and “executives from leading fintech companies.” ....
Deloitte Canada has acquired Groundswell Group, a Calgary-based artificial intelligence (AI) and data integration firm. Following the deal, Groundswell’s 133-person team will join Deloitte’s Canadian consulting practice, under Omnia AI. Groundswell will also continue to serve clients in Western Canada. Deloitte Canada declined to disclose the financial terms of the acquisition to BetaKit. Groundswell marks Deloitte Canada’s second acquisition of 2021, with its first being TWG. Founded in 2001, Groundswell delivers a variety of services to help its clients capitalize on the value of data. The firm does not sell a specific software, however, its team provides niche expertise to firms spanning the oil and gas, retail, utilities, finance, and manufacturing sectors, among others. ....