$3 Million for Montreal Start-ups

Montreal Start Up announced today the closing of its $3 million venture capital fund, Fonds Soutien Montreal s.e.c. Montreal Start Up is a venture investor dedicated to supporting Montreal based entrepreneurs in building successful companies. Participating in the fund are twenty of Montreal most successful entrepreneurs and investors, complemented by strong support from institutional investor, Investissement Quebec.

Montreal Start Up will focus on deploying seed and advisory capital into early stage opportunities. By leveraging its capital with its investor base’s experience in building successful information technology, communications and media companies, it will be able to nurture ambitious entrepreneurs in their quest to become venture ready.

Founded in 2007, Montreal Start Up is a venture investor committed to supporting Montreal based entrepreneurs and their companies during their start-up phase, with the investment focus being on companies developing innovative software based services in the Internet, wireless and multi-media sectors. The firm’s general partners are John Stokes, Alan MacIntosh, Jean-Sebastien Cournoyer, Austin Hill and Daniel Drouet.

Montreal Start Up plans to focus exclusively on funding very early stage startups. By providing enough funds to allow a new company to launch and gain market traction, the company will be in a much better position to raise more traditional VC capital.

Hat tip to Jevon at StartUpNorth