Tandem Launch incubator raises another $12 million

TandemLaunch, a Montreal-based technology incubator and accelerator, has announced the first closing of its third fund, raising $12 million to support a dozen new ventures. The lead investor in TandemLaunch Ventures II (TLVII) is BDC Capital which is contributing $4 million. BDC was also the lead investor in TandemLaunch I, which raised $9.8 million. The firm has been effective in sourcing promising technologies from top global universities, bringing in talent and contributing seed capital. Since its foundation in 2010, it has supported 13 ventures valued at more than $60 million with in-house staff, mentors and industry partners, with the aim of developing strong IP and global potential. Other investors are Lune Rouge Innovation, Speed of Trust Ventures, YUL Ventures, Nathalie Marcoux and Jean-François Grenon. The final closing of TVLII is expected late summer....