Canadian private credit firm Vistara Growth is set to launch a $500m (£371.4m) North American evergreen fund, anchored by Beedie Capital.

Beedie Capital, the multi-strategy alternative investment platform of Canadian private real estate company Beedie, has committed up to $125m to the Vistara Growth Structured Opportunities Fund.

The fund is set to launch in autumn 2026 and has a target size of $500m, according the the firms.

Vistara Growth provides growth debt and equity capital to mid- to later-stage technology companies across North America.

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“With the current market dislocation for technology financing given the uncertainty around the impact of artificial intelligence and other market forces, we believe this is an ideal time to launch our new flagship evergreen fund in partnership with Beedie,” said Randy Garg, founder of Vistara Growth.

Alongside its commitment to the evergreen fund, Beedie Capital has also acquired a 50 per cent ownership stake in Vistara Growth. The firms’ relationship dates back to 2015, when Beedie Capital became one of Vistara Growth’s first limited partners.

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“Beedie Capital has backed us in every fund since the very beginning, and this investment takes that partnership to a new level,” said Garg.

“By combining Vistara’s specialised growth-capital platform and track record with Beedie Capital’s scale, permanent capital base, relationships and complementary investment capabilities, we believe we can continue to create significant value for our investors and portfolio companies with our own new evergreen fund.”

The companies said the two firms will continue to operate as separate businesses.

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