Canadian revenue financing company TIMIA Capital Corp. has revealed plans to set up its first $10.5 million limited partnership (LP) vehicle, TIMIA Capital 1 Limited Partnership.
The external investors will infuse about $7.6 million in the vehicle and extra subscription deals totalling $500,000 have been received.
TIMIA intends to invest $8.7 million in software-as-a services companies and the other $2.3 million infused via its financial technology platform and proprietary investment algorithms in North America.
The new fund will be managed under the terms of a limited partnership deal with its unit, TIMIA Capital GP Inc.