With 10 portfolio companies backed by its $4.25 million first fund, Island Capital Partners is preparing to raise a larger second fund next year.
The Charlottetown-based group was formed in 2017 by a group of Islanders with deep backgrounds in international business and entrepreneurship to provide early-stage financing and mentorship. It intended at that time to build up a portfolio of 12 to 13 companies based on P.E.I. or having operations on the Island.
Now that they have almost met that goal, the principals are beginning to talk to potential limited partners for the second fund, worth