Panache Ventures, a Canadian venture capital firm, closed its inaugural fund, at $58m.
Backers included Alberta Enterprise Corporation, Fonds de solidarité FTQ, and Investissement Québec, National Bank of Canada, TELUS Ventures, BMO Bank of Montreal, and BC Tech Fund, managed by Kensington Capital, a consortium of Yukon First Nations, and the Government of Yukon.
Led by Patrick Lor and Mike Cegelski, Managing Partners, and Prashant Matta, Partner, Panache Ventures is a national venture capital platform that focuses on seed stage investments.
Launched in 2018, the fund has already invested in 52 technology startups across Canada and selectively in the US.
The firm has offices in Montreal, Toronto, Calgary and Vancouver.