Kensington Capital Partners Limited

Name

Kensington Capital Partners Limited

Legal name

Kensington Capital Partners Limited

Website

https://kcpl.ca

Company type

Private

Founded year

1996

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Private Equity Management

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282)

akta.pro primary industry

Micro-VC & Angel Funds (FSANAAAI)

akta.pro secondary industries

Private Equity Buyout Fund-of-Funds (FSANAGAD), Alternative Investments for Private Wealth (Hedge Funds, PE/VC Access, Private Credit) (FSAAABAI)

Keywords

• Private equity management
• Venture capital funds
• Growth equity investments
• Mid-market buyouts
• Fund-of-funds program

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Management Fees: Kensington earns management fees on the assets it manages across its funds, including the Kensington Private Equity Fund. Management fees provide a recurring revenue stream based on assets under management.
2. Performance Fees (Carried Interest): Following the 2026 proposal, the Manager's entitlement to performance fee is based entirely on net realized income and net realized capital gains received by the Fund, without the requirement for a corresponding distribution to unitholders. This aligns manager and unitholder interests.
3. Fund-of-Funds Program: Kensington generates revenue by investing as a limited partner into other private equity funds and by charging management and performance fees on its own funds. The fund-of-funds program provides diversification and steady long-term returns while generating secondary and co-investment opportunities.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels6 records

Core offering

Kensington Capital Partners Limited is a Canadian alternative investment manager that deploys capital across private markets through three strategies—venture capital, growth equity, and mid-market buyouts—using a hybrid model of direct investments, co-investments, and fund-of-funds LP allocations. The firm manages $2.2 billion in assets through the continuously offered Kensington Private Equity Fund, four standalone venture funds, the BC Tech Fund, and the Sentinel Strategy national security platform. Kensington earns revenue from management fees on AUM and performance fees (carried interest) on fund returns.

Product overview

Kensington Capital Partners Limited is a Canadian alternative asset manager offering a platform of investment products across private markets. The core offering is the Kensington Private Equity Fund, a hybrid fund combining venture capital, growth equity, and mid-market buyout strategies with both direct investments and fund-of-funds allocations. Standalone venture funds include Kensington Venture Fund ($306M), Kensington Venture Fund II ($150M), Kensington Venture Fund III ($290M), and the BC Tech Fund ($101M). The Sentinel Strategy provides a national security investment platform. Investment strategies span Buyout, Growth Equity, and Venture Capital. The firm serves Canadian investors seeking diversified private equity exposure and is a majority-owned subsidiary of AGF Capital Partners.

Differentiator

Problem solved

Functional benefit

Brands

• Kensington Private Equity Fund: Diversified private equity fund investing in venture capital, growth equity, and mid-market buyouts across North America
• Kensington Venture Fund
• Kensington Venture Fund II
• Kensington Venture Fund III
• BC Tech Fund
• Sentinel Strategy

Products and services

• Kensington Private Equity Fund A diversified private equity fund providing continuous access to investments across venture capital, growth equity, and mid-market buyouts in North America, combining direct investments and fund-of-funds allocations. RRSP-eligible for Canadian investors with no typical J-curve. Fund size of $1.27 billion.
• Kensington Venture Fund A $306 million venture capital fund launched in 2014, now fully invested and closed to new investors. Invests in early to later-stage technology growth companies across Canada and the US.
• Kensington Venture Fund II A $150 million venture capital fund launched in 2019, now fully invested and closed to new investors.
• Kensington Venture Fund III A $290 million hybrid fund-of-funds venture capital fund established in 2022 with final close in June 2024, investing in early-stage to later-stage technology growth companies across Canada and the US.
• BC Tech Fund A $101 million venture capital fund launched by the Government of British Columbia in 2016, managed by Kensington to invest in emerging technology companies in BC across ICT, digital media, cleantech, and life sciences. Now completed its investment period.
• Sentinel Strategy Kensington's national security investment platform, launched through the 2025 acquisition of ONE9, combining deep sector expertise in defense, intelligence, and national security with institutional scale to build Canada's leading security-focused investment platform.
• Buyout Strategy Mid-market buyout investment strategy focusing on North American mature profitable businesses with revenues of $20-200 million and EBITDA of $5-25 million. Kensington partners with strong management teams either as active co-investor or lead investor.
• Growth Equity Strategy Growth equity investments in software or tech-enabled services companies that have graduated from venture stage and are scaling rapidly, as well as non-technology businesses across traditional industries such as food and beverage, energy, and consumer services.
• Venture Capital Strategy Diversified venture capital investments across all stages from early-stage seed and Series A through later-stage technology growth companies, primarily in Canada and the US. Spans ICT, life sciences, clean tech, digital media, cybersecurity, robotics, and tech-enabled services.

Quantifiable outcome

• From 72 clinics to 120+ clinics across 9 provinces in 3 years for Resolve Sleep Health (portfolio company)
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• ONE9 Venture Partners LPcoreStrategic or Co-development Partner · 1 March 2025In March 2025, Kensington acquired the venture capital investment business of ONE9, an Ottawa-based team led by Glenn Cowan. This acquisition launched Kensington's Sentinel Strategy, a national security investment platform backed by AGF Capital Partners. The strategy combines deep sector expertise with institutional scale to build Canada's leading security-focused platform. ONE9's team brings expertise in defense, intelligence, and National Security investments.

Scale indicators11 records

Recent moves8 records

Direct peers

• Northleaf Capital Partners: Toronto-based private markets investor offering private equity, private credit, and infrastructure fund-of-funds and direct programs to institutional and retail investors. Highly comparable as a Canadian mid-market PE/VC FoF manager with retail-access product wrappers.
• Clairvest Group: Toronto-based publicly-traded private equity firm focused on mid-market buyouts and growth equity, primarily in North America. Comparable as a Canadian mid-market PE manager with multi-decade track record and active ownership approach.
• Novacap: Canadian mid-market private equity firm investing across sectors in North America through buyout and growth strategies. Comparable in geography, strategy mix (buyout + growth), and mid-market check size.
• TorQuest Partners: Toronto-based mid-market private equity manager investing in Canadian and North American businesses. Comparable as a Canada-headquartered, mid-market PE firm with a long-duration capital base and active ownership model.
• Whitecap Venture Partners: Toronto-based Canadian VC firm investing in early- to growth-stage technology companies. Comparable as a Canadian venture capital manager with similar geographic and stage focus to Kensington's VC strategy.
• Real Ventures: Montreal-based early-stage VC firm investing in Canadian technology startups across multiple sectors. Comparable as a Canadian venture capital firm with seed/Series A focus similar to Kensington's VC strategy.

Broad incumbents

• AGF Management Limited: Kensington's majority owner (since March 2024) and a TSX-listed global asset manager with $60.5B AUM. Comparable as a Canadian asset manager with alternatives capabilities, though broader in mandate (mutual funds, institutional) than Kensington's PE/VC focus.
• Brookfield Asset Management: Toronto-headquartered global alternative asset manager with multi-strategy PE, credit, real assets, and venture exposure. Comparable as a Canadian-rooted alternatives manager, though vastly larger scale and more diversified product set.

Regional players

• Trez Capital: Vancouver-based private credit and alternative investment manager offering real estate and private credit funds to Canadian retail and institutional investors. Comparable as a Canadian alts manager offering retail-access private market product wrappers, though concentrated in private credit rather than PE/VC.

Others

• OMERS: One of Canada's largest pension plans with significant private markets investing activity through its Private Markets group. Comparable as a large-scale allocator in Canadian private equity, and a former employer of Kensington's VP of Portfolio Analytics — useful for benchmarking talent flows and LP-side competition.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/KensingtonFunds

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments72 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kensington Capital Partners Limited