Date closed: 3/6/2018

Value: C$25 million

On March 6, 2018, Panache Ventures Investment Fund, 2018 L.P., led by entrepreneurs Mike Cegelski, Patrick Lor, David Dufresne and Nicolas Jacques-Bouchard, announced the closing of its first $25-million of the targeted $40-million in investor commitments. The commitments were made by three institutional investors (Investissement Québec, Alberta Enterprise Corporation and the Fonds de solidarité FTQ) and 30-plus angel investors. Panache will be looking to invest in a broad range of tech companies at the seed and pre-seed financing stages.

The BLG team advising Panache in setting up the fund and the initial commitments was led by partners Pascal de Guise and Yaniv Saragosti and included Jordan Furfaro.