MONTREAL, QUEBEC--(Marketwired - Nov. 15, 2016) - TandemLaunch, a company creator and seed fund focused on creating, incubating and accelerating early-stage technology start-ups, today announced the final closing of TandemLaunch Ventures II reaching its maximum capitalization of CAD $15 million.
This final closing includes an additional investment from BDC Capital, which increases their participation to $4.9 million, and contributions from new international investors from China, the Republic of Singapore, the United Kingdom and United States. Following a first closing in May 2016, the fund is now supported by an exceptional group of 44 renowned private investors such as Lune Rouge Innovation, founded by Guy Laliberté, and Speed of Trust Ventures and other successful entrepreneurs and angel investors such as members of YUL Ventures, Nathalie Marcoux and Jean-François Grenon.
"We are very pleased by the ongoing support of BDC Capital and are excited to welcome a growing number of investors from Canada and abroad," said Helge Seetzen, General Partner of TandemLaunch. "Our unique model allows us to bring our investor's capital, network and depth of experience to entrepreneurs and technologists early in the start-up process. With their contribution and support, TandemLaunch Ventures Fund II is well positioned to nurture a whole new crop of innovative Canadian start-ups."
The new capital will allow TandemLaunch to initiate at least another dozen new ventures by identifying technologies from global universities with promising market opportunities, bringing talent from around the world, and contributing seed capital. Portfolio companies are also provided access to TandemLaunch's in-house staff, facilities, mentors and industry partners. The objective of the fund is to create companies that develop strong intellectual property with the potential for global commercialization.
TandemLaunch is a seed investor and incubator focused on creating early-stage technology start-ups. TandemLaunch works closely with consumer electronic companies and universities to identify disruptive technologies with a sizeable market opportunity. This unique demand-driven approach reduces market risk early in the start-up process. Since its foundation in 2010, TandemLaunch created 13 ventures valued at over $100 million and employing over 250 high tech workers in the Montreal area. Notable portfolio companies include LandR, SPORTLOGiQ and wrnch. www.tandemlaunch.com