Amplitude Ventures of Montreal has launched a $200-million venture fund, closing more than 50% of its target.
Amplitude is a spinout of the Business Development Bank of Canada, which is a cornerstone investor in Amplitude’s new fund. In addition, the fund received support from Investissement Quebec, Fonds de solidarite FTQ and Teralys Capital.
Amplitude, which is looking to be an anchor investor, wants to commit $20-million to $30-million per company, across a number of rounds.
Amplitude’s investment goal will focus on creating three precision health clusters: a Vancouver cluster focused on targeted therapies; a Toronto cluster focused on next-generation imaging, artificial intelligence, and intelligent monitoring; and a third in Montreal that focuses mostly on leveraging AI and machine learning.
“We believe we can capture the full potential of Canadian innovation and support, and amplify the entrepreneurial vision of founders by providing the focused capital and connections that companies need to take their innovation from idea to IPO,” Jean-François Pariseau, co-founder and partner at Amplitude, said in a statement.
“The collective vision of BDC Capital, Fonds de solidarite FTQ, Teralys, Investissement Quebec, and [CDPQ] gives us the platform we need to achieve our goals,” he added.