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Ex-500 Canada Partners Launch First Fund and Announce Initial Closing of $25 Million VC Fund for Panache Ventures
Wednesday, March 7, 2018
Panache Ventures is announcing the launch of its first fund and its initial closing of $25 million.
Vancouver, BC, March 7, 2018--(T-Net)--Ex-500 Canada Partners members anounced today the initial closing of a $25 million Canadian venture capital fund for Panache Ventures, its first fund.
Panache Ventures is a new Canada-wide early stage venture capital fund that intends to be active in seeking out new VC investments.
Mike Cegelski (Managing Partner - Montreal), Patrick Lor (Managing Partner - Calgary), David Dufresne (Partner - Montreal), Nicolas Bouchard (Associate - Montreal) were previously members of the core team that launched 500 Startups Canada in 2016, and ended its investment period last Summer.
In 5 months, the team reported that it has created this brand-new independent venture fund with a founders-first philosophy, a commitment to diversity and
strategically coinvests with smart angel investors and seed stage funds.
Panache is composed of an entrepreneurial team of experienced operators, a strong angel investor track record, years of institutional VC experience and a strong network in Canada, in Silicon Valley and worldwide. A new addition to the team will be announced soon, based in the Greater Toronto Area.
The firm plans to deploy its capital in over 140 startups over the next 4 years, focusing on the preseed and seed stages. So far they have invested, or committed to invest in 11 companies across Canada, from Vancouver to Halifax.
"We are putting together the most active and best performing early-stage private venture fund in Canada, created with innovative concepts based on a large portfolio diversification thesis. Panache is here to improve the startup ecosystem thus increasing entrepreneurial successes across Canada!" said Mike Cegelski.
"We're focusing on supporting the next generation of entrepreneurs. We're investing in the top growth and innovation sectors including AI/ML, FinTech, Cybersecurity and Blockchain technologies." stated Patrick Lor.
About Panache Ventures
Panache Ventures is Canada's most active seed stage venture capital fund. Panache is led by a team of experienced operators, with a strong angel investor track record, years of institutional VC experience and a strong network in Canada, in Silicon Valley and worldwide. The fund has a founders-first philosophy, a commitment to diversity and strategically coinvests with smart angel investors and seed stage funds.
Contact:
Gabrielle Drouin
gabrielle@panache.vc.