Alberta Enterprise Corporation, the provincial government’s independent fund of funds manager, has invested $5 million in Panache Ventures’ new Canadian seed fund. This investment comes after Panache Ventures recently closed up to $25 million in deals, and the company is keen to support more seed-stage startups across Canada. Panache Ventures is led by former startup operators and angel investors who are well entrenched in the local ecosystem. Managing partner Patrick Lor is based in Calgary while managing partner Mike Cegelski and partner David Dufresne are from Montreal. The firm is looking to invest in companies innovating in emerging technologies, such as artificial intelligence, cybersecurity, and blockchain, as well as virtual reality, enterprise SaaS (software as a service), and data analytics. Panache Ventures said it is already studying several deals with the hope of developing a large-scale portfolio of seed-stage companies across the country. With a target fund size of $40 million, Panache Ventures plans to invest in about 140 startups over the next four years. For Panache, Calgary is a focal hub for its operations in the west where they see a vibrant and growing technology ecosystem ripe for investment opportunities. Alberta Enterprise Corporation finds Panache’s focus on early-stage funding to be a good fit to the company’s goal of providing access to capital to young companies through fund managers.
Trending by Topic
Research Money News
Conference Proceedings now available
The proceedings from the 2017 RE$EARCH MONEY Conference are now available. Download them here.Read More
R$ Welcomes New Team Member
We’re delighted to welcome Mark Lowey as senior correspondent for Research Money.Read More
RE$EARCH MONEY welcomes its readers to submit articles of either 650 or 1,000 words for its popular Opinion Leader page, on topics of interest to the research and innovation community. We also welcome Letters to the Editor and other feedback. If you would like to submit an article or if your organization has news or events that it would like to appear in RE$EARCH MONEY please contact Mark Henderson, Managing Editor, for further information.
- National Research Council
- Natural Sciences and Engineering Research Council
- Canada Foundation for Innovation
- Univ of Toronto
- Univ of British Columbia
- Canadian Institutes of Health Research
- Technology Partnerships Canada
- McGill Univ
- Univ of Alberta
- Univ of Waterloo
Research Money on Twitter
- Loading tweets...