Diagram Ventures Announces $100-million 3rd Fintech Fund. Expands to the U.S.

Betakit | Meagan Simpson | May 4, 2023

Diagram Ventures remains bullish on FinTech companies as it launches its latest venture fund with a first close of $100 million CAD.

• Select insights from the interview with Francois Lafortune, co-founder and CEO of Diagram:
• The firm has commitments that bring its third fund closer to $120 million CAD. This is more than double the size of Diagram’s second fund, which closed at $55 million CAD.
• Not concerned about the current dip in the FinTech market and still sees tons of opportunity
• Through this latest fund, the firm will invest in both companies it helps create as well as companies it does not (to avoid limiting the funds potential)

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• Montréal-based Diagram is also looking to expand its presence in the United States on-boarding partners Steve Schultz, previously of Amazon Web Services, and Ken Nguyen, of Insight Capital, joined the Diagram team earlier this year.
• The new fund is set to invest in approximately 20 companies from pre-seed through Series A stages ($3-5M CAD per). The majority of the capital (two-thirds) will go towards startups that Diagram co-creates, while the remainder will be external companies.

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