About This Fund
Vistara Growth (formerly Vistara Capital Partners) is a Vancouver-based private credit manager founded in 2015 as a spinout from a family office. The firm provides flexible, non-dilutive growth financing to mid-to-late stage technology companies across North America and has raised approximately US$700 million across five funds since inception. PitchBook ranks the firm among the top five private-debt fund families globally and it is the only Canadian-based manager in that league table. Vistara Technology Growth Fund V is the fifth and largest vehicle in the firm's fund series.
Fund V deploys structured capital solutions combining long-duration term debt, convertible debt, and structured preferred equity to B2B software, SaaS, and technology-enabled services companies. Typical check sizes range from US$10 million to US$50 million per company, using non-amortizing, interest-only or payment-in-kind (PIK) structures designed to preserve founder equity. The fund targets 15 to 18 total investments across enterprise software, cybersecurity, healthcare software, government technology, and enterprise AI, with geographic focus on the United States and Canada.
Fund V reached its final close at US$321 million (C$450 million) on November 12, 2025 — a 66 percent increase over Fund IV — with over 100 percent repeat commitments from prior fund investors. An initial close of US$150 million was announced in December 2023. During the fundraising period, eight investments were completed, including Clariti Cloud (government technology), Tendo (healthcare software), Authentic8 (cybersecurity), and Kore.ai (enterprise AI). Across all five funds, Vistara has completed 42 investments with 23 exits and zero credit losses, establishing one of the strongest track records in the technology private credit category.