HomeInsuranceLuge Capital Announces $71 Million First Close of Second Fund

Luge Capital Announces $71 Million First Close of Second Fund

Fintech-focused venture capital firm to continue investing in the next generation of early-stage startups in Canada and the US

MONTRÉAL, Sept. 26, 2023 /CNW/ – Luge Capital today announced that it has raised CA$71 million in the first close of its second fund, Luge Capital Fund II, towards an ultimate fund size of $100 million. LPs in Fund II include returning investors CDPQ, DesjardinsBDC Capital, Sun LifeIndustrial Alliance Financial Group (iA), Fonds de solidarité FTQ, and new investor Inovia Discovery Fund I.

Like its debut fund, Luge Capital Fund II will invest in early-stage fintech startups in Canada and the U.S. that are led by exceptional founders with a drive to affect change globally. In addition to the core investment thesis from its first fund, Luge is expanding its scope of investments to include verticalized fintech startups that operate at the…

Read more at www.newswire.ca

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