Camcor closes $200m debut fund

Camcor Partners has closed a $200 million venture capital fund, which will invest in the oil sands business.

Calgary-based Camcor Partners has closed its first private equity fund with $200 million (€147 million) of commitments.

The Camcor Oil Sands Opportunities Fund will invest primarily in private firms that work with oil sands – deposits of bitumen that can be converted into crude oil.

It will invest in a range of businesses including exploration and production, upgrading and environmental services. The fund is looking for companies with strong management, which need capital for start-up or expansion.

The fund has attracted backers from Canada and the U.S, with Los Angeles and Houston-based Kayne Anderson being the biggest single investor.

This is the first fund for Camcor Partners, a Calgary-based privately-owned firm founded in 2006.