Canadian Startup Launchpad Diagram Closes $25m Fund
Summary
Diagram, a new venture launchpad for Canadian startups in financial, insurance and healthcare technology, closed a $25m fund.Led by Founder & CEO François Lafortune and Chairman Paul Desmarais III, Diagram focuses on a hands-on approach making a few large, concentrated investments.It provides advice, capital and expertise with the support of Power Financial Corporation via Portag3 Ventures LP, and a group of 50 angel investors, who will act as mentors and accompany founders.Limited partners include: – Adam D’Angelo, CEO of Quora and former CTO of Facebook; – Ryan Holmes, CEO of Hootsuite; – Joe Lonsdale, founder of Palantir, Addepar, and 8VC; – Anthony Lacavera, founder and former CEO of WIND Mobile; – Nadir Mohammed, former CEO of Rogers; – Andrew Chisholm, former Global Head Financial Institutions at Goldman Sachs; and – Henri de Castries, former Chairman and CEO of AXA.Based in Montreal and Toronto, the launchpad recently made its first two investments in: – Dialogue, a Montreal-based virtual health and wellness platform for choice employers, and – Collage, a Toronto-based cloud platform that automates HR and benefits for Canadian businesses.